US President Donald Trump has watched over an expanded ceasefire agreement between Cambodia and Thailand and put pen to a slew of trade an mineral deals at the ASEAN summit in Malaysia

Thai Prime Minister Anutin Charnvirakul and his Cambodian counterpart Hun Manet signed the agreement at a ceasefire ceremony in front of a sign that read “Delivering Peace”, building on a truce signed three months ago.

“This declaration, if fully implemented, will provide the building blocks for a lasting peace. But, more importantly, it will begin the process of mending our ties,” Hun Manet said.

“Our border communities have been divided by conflict, and innocent civilians have suffered immense losses.”

Trump helped broker an end to the five-day conflict in July by calling the then-leaders of the two countries and urging them to end hostilities or risk their respective trade talks with Washington being put on hold.

“The United States will have a robust commerce and co-operation, transactions, lots of them, with both nations, as long as they live in peace,” Trump said.

Both sides blame each other for escalating an exchange of rockets and heavy artillery that killed at least 48 people and temporarily displaced an estimated 300,000 people in their worst fighting in recent history.

On arriving in Malaysia, Trump was greeted by Prime Minister Anwar Ibrahim and a troupe of ceremonial dancers at Kuala Lumpur International Airport.

A protester holds a placard during a protest rally against Trump’s visit to Malaysia. Photo: AAP

Anti-Trump demonstrations were also being held in Kuala Lumpur, with some protesters holding signs saying Trump was not welcome in Malaysia.

As he mingled with other leaders, US and Chinese negotiators met on the sidelines to avert further escalations in a trade war between the world’s two largest economies.

Asked if rare earths were discussed at the talks, which started on Saturday, top US trade negotiator Jamieson Greer said a broad range of topics had been canvassed, including extending the truce on trade measures.

“I think that we’re getting to a spot where the leaders will have a very productive meeting,” Greer said.

China’s stranglehold over global supplies of rare earths is at the heart of the negotiations, and Washington has sought to diversify supply chains.

Cambodian Prime Minister Hun Manet, President Donald Trump, Malaysian Prime Minister Anwar Ibrahim and Philippine President Ferdinand Marcos Jr. Photo: AAP

Within hours of landing in Malaysia, Trump had finalised trade agreements with four countries, including deals involving critical minerals with Thailand and Malaysia, amid competing efforts from Beijing in the rapidly growing sector.

Malaysia on Sunday agreed to refrain from banning or imposing quotas on exports to the US of critical minerals or rare earth elements, the countries said in a statement.

They did not specify whether Malaysia’s pledge applied to raw or processed rare earths.

Trump also announced a wider trade deal with Cambodia while the White House said an agreement had been reached with Vietnam to allow “both countries’ exporters unprecedented access to each other’s markets”.

The US would maintain a tariff rate of 19 per cent on most exports from Malaysia, Thailand and Cambodia, while a 20 per cent rate on Vietnam would also be retained, the White House said.

Trump also met briefly with Brazilian President Luiz Inacio Lula da Silva, who is among several world leaders at the summit.

Lula will aim to lower 50 per cent tariffs imposed by Washington on Brazilian goods.

A meeting with Canadian Prime Minister Mark Carney was not on the cards after talks between the neighbours came to an abrupt end after what Trump said was a “fake” advertisement featuring former US president Ronald Reagan.

Trump said on Saturday he was increasing tariffs on Canada by an additional 10 per cent “above what they’re paying now”.

US China thaw?

Top Chinese and US economic officials have hashed out the framework of a trade deal for Trump and Chinese President Xi Jinping to decide on that would pause steeper tariffs and rare earths export controls, US officials say.

US Treasury Secretary Scott Bessent said talks on the sidelines of the ASEAN summit had eliminated the threat of Trump’s 100 per cent tariffs on Chinese imports from November 1.

Bessent also said he expected China to delay implementing its rare earth minerals and magnets licensing regime by a year while the policy is reconsidered.

Chinese officials were more circumspect about the talks, offering no details about the outcome of the meetings.

Trump and Xi are due to meet on Thursday on the sidelines of the Asia-Pacific Economic Cooperation summit in Gyeongju, South Korea, to sign off on the terms.

The White House has officially announced the highly anticipated Trump-Xi talks, but China has yet to confirm any meeting.

After the weekend talks, Trump struck a positive tone, saying: “I think we’re going to have a deal with China”.

Albanese focused on trade

As Federal Parliament resumes this week with a showdown on green reforms and Labor facing heat over Optus, Prime Minister Anthony Albanese will be in Malaysia for the ASEAN summit, before flying to South Korea for APEC.

“One in four Australian jobs rely on trade and we will be focused on continuing to grow our key economic and trade relationships during ASEAN and APEC,” he said on Sunday.

-with AAP