In early November, U.S. President Donald Trump began his tour of Asia, visiting multiple countries and achieving significant breakthroughs in both diplomacy and trade. As the trip progressed, he secured a series of political commitments and trade agreements in each country, introducing new dynamics into Asia-Pacific multilateral trade amid ongoing tariff tensions. Below is a breakdown of the key agreements from each stop, listed in order of visit.

Malaysia

Deepening Regional Trade Cooperation and Promoting Market Openness

Malaysia was the first stop of Trump’s Asia tour. In addition to attending the ASEAN summit, he also witnessed the signing of the Kuala Lumpur Peace Accords between Cambodia and Thailand. The two countries agreed to an immediate full ceasefire and plan to resume negotiations by June next year. The U.S. pledged a $100 million peace fund to help maintain regional stability.

On trade, Malaysia announced immediate tariff improvements on U.S. agricultural and industrial goods—including dairy, pork, horticulture, chemicals, and electrical machinery. Malaysia also committed not to impose export bans or quotas on critical minerals or rare earths shipped to the U.S., ensuring supply chain stability. In return, the U.S. reduced tariffs on Malaysian exports from 25% to 19%, with some goods such as palm oil, cocoa, and rubber receiving full tariff exemptions.

Japan

Strengthening Defense Cooperation and Enhancing Supply Chain Resilience

In Tokyo, Trump unveiled several major agreements to deepen U.S.-Japan economic and technological ties. A central highlight: Japan will proceed with a previously pledged $550 billion investment in the U.S. covering nuclear energy, small modular reactors (SMRs), power grids, AI infrastructure, electronic components, critical minerals, and logistics. These investments aim to revitalize U.S. manufacturing and reinforce energy security.

Both nations also signed a “Critical Minerals Agreement”, aimed at strengthening supply chain resilience, tightening foreign investment screening, and cracking down on illicit transport via “shadow fleets.”

• Energy: Japanese companies will significantly increase purchases of U.S. LNG and coal. JERA committed an additional $1.5 billion in U.S. energy investments.
• Defense: The U.S. will accelerate F-35 missile deliveries, while Japan pledged to upgrade its defense capabilities and join efforts to combat global drug trafficking.
• Technology: The two sides signed the Technology Prosperity Agreement to advance collaboration in AI, 6G, quantum computing, biotechnology, fusion energy, and space exploration.

Overall, the agreements mark a shift in the U.S.-Japan alliance from traditional trade to broader industrial and tech cooperation—bolstering America's industrial base, energy security, and its economic and strategic leadership in the Indo-Pacific region.

South Korea

Strengthening Industrial Ties and Securing Strategic Partnerships in Asia-Pacific

South Korea was the final stop of President Trump’s Indo-Pacific tour. A number of high-value export and investment deals—spanning aerospace, energy, tech, and shipbuilding—were announced, further tightening U.S.-South Korea economic relations and cementing U.S. leadership in the region.

• Aerospace: Both sides agreed to sign the Technology Prosperity Agreement, expanding cooperation in AI, 6G, quantum technologies, biotech, and research security. Korean Air is set to purchase 103 Boeing aircraft and GE engines, expected to create over 130,000 jobs in the U.S. South Korea’s Air Force also selected L3Harris to develop next-gen surveillance aircraft, boosting defense and tech cooperation.
• Technology: Amazon announced a $5 billion investment to establish a cloud computing center in South Korea, advancing the region’s digital infrastructure.
• Energy: U.S.-based ReElement will partner with POSCO International to build a vertically integrated rare earths facility in the U.S. Korea Gas Corporation (KOGAS) committed to long-term LNG purchases from the U.S., while LS Group and Centrus Energy will invest in modernizing the U.S. power grid and uranium enrichment facilities, reinforcing supply chain and energy resilience.
• Shipbuilding & Maritime: Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean will invest in modernizing shipyards and supporting U.S. Navy ship maintenance, deepening cooperation in high-end shipbuilding and defense repair.

China

U.S.-China Trade War Eases: A First Step Toward Restoring Trust

The U.S. and China recently reached a new economic and trade agreement to ease ongoing tensions. Under the agreement, China will halt exports of chemical precursors used to produce fentanyl to the U.S. and lift export restrictions on critical minerals such as rare earths, gallium, germanium, and graphite. China will also end retaliatory measures against U.S. semiconductor firms and agricultural products.

On the trade front, China has pledged to resume large-scale imports of U.S. agricultural goods: it will purchase 12 million metric tons of soybeans by the end of 2025, and commit to importing at least 25 million metric tons annually between 2026 and 2028. Additionally, it will resume imports of sorghum and timber from the U.S. China also agreed to extend tariff exemptions on U.S. goods through the end of 2026 and suspend anti-monopoly and anti-dumping investigations targeting American companies.

For its part, the U.S. will cut tariffs on Chinese imports by 10 percentage points starting November 2025, extend Section 301 exemptions for one year, and pause punitive probes into China’s shipping and shipbuilding industries.