U.S. President Donald Trump announced Monday that Washington and Beijing are close to finalizing a trade deal ahead of his expected meeting with Chinese leader Xi Jinping. Speaking aboard Air Force One en route to Japan, Trump said a TikTok agreement could be signed as early as Thursday, emphasizing his respect for Xi and confidence that both sides will “come away with the deal.” The announcement came during a whirlwind Asia tour, which began with trade and mineral agreements with Malaysia and Cambodia, as well as frameworks with Thailand and Vietnam, all members of the Association of Southeast Asian Nations (ASEAN). The agreements aim to remove trade barriers, provide preferential access for U.S. goods, boost purchases of American agricultural and energy products, and increase cooperation on export controls and critical minerals, though analysts noted that commitments were more cooperative than legally binding. Under the deals, tariffs on Malaysian, Cambodian, and Thai exports remain at 19%, with select products duty-free, while Vietnam maintains a 20% rate with some exemptions, alongside pledges to increase U.S. imports. Malaysia agreed to avoid bans or quotas on critical minerals and accelerate rare-earth projects, while Thailand relaxed restrictions on U.S. investment in telecommunications and certain goods. In addition, Trump formalized an extended truce between Thailand and Cambodia, building on a July ceasefire after summer border clashes, highlighting his administration’s role in regional peace efforts. Meanwhile, Chinese Premier Li Qiang attended the China-ASEAN Summit in Malaysia, signing eight agreements covering trade and the digital economy, signaling overlapping diplomatic momentum in the region.