Trump, Xi Hold First Meeting Since 2019, Agree on Tariff Cuts and Trade Cooperation
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President Donald Trump and Chinese President Xi Jinping met on Thursday in Busan, South Korea, marking their first face-to-face engagement in six years.
The high-profile talks, held on the sidelines of the 2025 Asia-Pacific Economic Cooperation (APEC) summit, covered a wide range of issues, including trade, technology, and global security.
Speaking through a translator at the start of the meeting, Xi described periodic friction between the world’s two largest economies as “normal,” emphasizing the importance of dialogue in maintaining stability.
Trump and Xi, flanked by senior officials from both governments, discussed trade relations, Chinese exports of rare earth minerals, the ongoing Fentanyl crisis, and the contentious issue surrounding the sale of TikTok. They also revisited China’s suspension of U.S. soybean purchases following the previous tariff disputes.
A key outcome of the meeting was Trump’s announcement of a 10 percent reduction in tariffs on Chinese imports, lowering the overall average rate from 57 percent to 47 percent. In return, China agreed to resume soybean imports from the United States and continue exports of rare earth elements.
Both leaders also pledged to collaborate on diplomatic efforts related to the war in Ukraine and to continue discussions on restrictions placed on Nvidia’s chip sales to China.
Trump indicated plans to visit Beijing in April 2026, while China is expected to confirm details of Xi’s reciprocal visit to Washington.
The nearly two-hour meeting concluded on a cordial note, with the two leaders smiling and shaking hands as they exited the venue at the Gimhae Air Base. Trump personally escorted Xi to his car before their departure.
Their meeting is being viewed as a potential turning point in U.S.-China relations, which have been strained by trade wars, technology disputes, and geopolitical rivalry.
