In a significant breakthrough in US-China trade relations, President Donald Trump hailed his one hour and forty-minute meeting with Chinese President Xi Jinping as a “great success.” The two leaders met on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Busan, South Korea.
“It was a great success,” Trump said, adding that the meeting had led to “important and positive changes” in bilateral trade and cooperation.
Both nations agreed on key measures aimed at easing economic tensions and reviving cooperation on multiple fronts.
Trump Slashes Tariffs on Chinese Imports
In one of the biggest takeaways from the summit, President Trump announced immediate cuts in fentanyl tariffs on China—from 20% to 10%—following Xi Jinping’s pledge to “work very hard to stop the flow” of fentanyl into the United States.
“I believe they are really taking strong action,” Trump said, noting that the move reflects growing trust between Washington and Beijing.
Trump also revealed an overall reduction in tariffs on Chinese goods imported into the United States—from 57% to 47%—as a goodwill gesture following progress on the fentanyl issue.
Another major outcome was an extendable one-year deal on rare earth materials, which have long been a strategic sticking point between the two economies.
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“There’s no roadblock at all on rare earths. That will hopefully disappear from our vocabulary for a little while,” Trump said.
The deal is expected to stabilize global supply chains and ease pressure on industries dependent on critical minerals for electronics and defense manufacturing.
No Discussion on Taiwan Issue
Interestingly, Trump confirmed that Taiwan was not discussed during the talks.
“Taiwan never came up. That was not discussed actually,” he told reporters aboard Air Force One, signaling a deliberate focus on trade and cooperation.
The two leaders also discussed the ongoing Ukraine conflict, agreeing to work together toward potential diplomatic solutions.
“Ukraine came up very strongly. We talked about it for a long time, and we’re both going to work together to see if we can get something,” Trump said, according to AFP.
“Xi Jinping is going to help us, and we’re going to work together on Ukraine,” he added.
Trump Announces Upcoming Visit to China
Following the meeting, Trump revealed plans for a state visit to China in April 2026, followed by Xi Jinping’s visit to the United States later in the year.
“I’ll be going to China in April, and he’ll be coming here sometime after that—whether it’s in Florida, Palm Beach, or Washington, DC,” Trump said.
The reciprocal visits signal a renewed phase of engagement between the world’s two largest economies.
