Topline
President Donald Trump said his face-to-face meeting with Chinese counterpart Xi Jinping was “amazing” and both countries had agreed to certain concessions to ease trade tensions, including a reduction of the fentanyl-related tariffs on China and a pause on Beijing export controls on critical rare earth minerals.
US President Donald Trump and China’s President Xi Jinping greet each other as they arrive for talks at the Gimhae Air Base, located next to the Gimhae International Airport in Busan.
AFP via Getty Images
Key Facts
Trump and Xi met face-to-face in the South Korean city of Busan on the sidelines of the Asia-Pacific Economic Cooperation summit, which lasted about an hour and 40 minutes.
Trump, who is on his way back to Washington, told reporters on board Air Force One that it was an “amazing meeting,” and he declared Xi Jinping a “great leader of a very powerful, very strong country.”
The president said he will immediately slash his fentanyl related tariffs on China from 20% to 10% as Xi has agreed to a stronger crackdown on the shipment of precursor chemicals for making the synthetic opioid.
Trump also claimed that China has agreed to pause its planned export controls on critical rare-earth metals for at least a year.
The president also said China has agreed to resume purchasing U.S. soybeans.
Chinese officials have not yet publicly commented on the outcome of the meeting.
What To Watch For
Trump told reporters he will be visiting China in April next year, and his trip will be followed by a reciprocal visit to the U.S. by Xi.
Source: https://www.forbes.com/sites/siladityaray/2025/10/30/trump-hails-amazing-xi-meeting-will-halve-fentanyl-tariffs-and-china-will-pause-rare-earth-controls/
