On October 30, 2025, U.S. President Donald Trump and Chinese President Xi Jinping met in Busan, South Korea, marking their first in-person summit in years. The leaders described the meeting as “amazing” and credited it with opening a path toward de-escalation in their nations’ ongoing trade conflict.

Key Agreements: Tariffs, Soybeans & Rare Earths

As a sign of goodwill, Trump committed to lowering tariffs on Chinese goods, while Beijing agreed to resume U.S. soybean purchases and defer export curbs on rare earth minerals for one year. These steps do not fully reverse trade barriers installed in recent months, but represent a tactical pause in escalating tensions.

Fragile Truce, Big Expectations

Observers call the summit a tactical truce rather than a full reset of relations. While both sides signal willingness for deeper engagement, fundamental disagreements over technology, industrial policies, and trade structure remain unresolved. he agreement does stabilize markets temporarily—but long-term follow-through will be key.