Source: BBC
DST News: US President Donald Trump met Chinese President Xi Jinping for the first time in six years, describing the talks in South Korea as “amazing.” The meeting raised hopes of easing tensions between the world’s two largest economies, though no formal trade agreement was signed.
According to a joint statement, both leaders agreed to work toward resolving major trade issues. While a final deal remains elusive, the discussions are seen as a step forward after years of tariff disputes that have strained relations since Trump’s earlier term.
China reportedly agreed to lift export restrictions on rare earth minerals—key materials for electronics and defense manufacturing—in what Trump hailed as a “major win.” Trump also announced that Beijing would resume large-scale purchases of US soybeans and other agricultural goods, pledging to buy up to 25 million tones annually for the next three years.
In return, the US said it would ease certain tariffs related to fentanyl-related imports. However, most existing tariffs, which currently impose more than 40% duties on Chinese imports, will remain in place.
Business leaders welcomed the partial progress, describing it as a “tariff truce” that could stabilize trade and allow more time for long-term negotiations.
While Trump emphasized breakthroughs, Xi adopted a more cautious tone, calling the meeting “a good start” and signaling that China would continue pursuing broader economic stability.
Beijing also invited Trump to visit China in April, suggesting a warming of relations, although no progress was reported on contentious issues such as TikTok or advanced chip exports.
Analysts said the one-hour meeting, though lacking spectacle, laid the groundwork for renewed dialogue between Washington and Beijing after years of escalating trade tensions.
