Trump, Xi Jinping Ink One-Year Rare Earths Deal; US To Slash China Tariffs By 10%

At the APEC Summit in Busan, Presidents Trump and Xi met for the first time in six years, seeking to de-escalate U.S.-China tensions.

They signed a one-year rare earth supply deal and agreed to lower fentanyl tariffs to 10%, indicating a tentative effort to restore trust after a period of strained relations.

Source : X

In a major breakthrough after years of strained ties, U.S. President Donald Trump and Chinese President Xi Jinping held their first face-to-face meeting in six years on Thursday, reaching agreements aimed at easing economic and diplomatic tensions.

During the nearly two-hour talks on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in Busan, the two leaders signed a one-year deal on rare earth supplies and agreed to reduce fentanyl-related tariffs to 10%, signaling a cautious step toward rebuilding trust between Washington and Beijing.

Trump, Xi Meet 

In his opening remarks during a crucial face-to-face meeting with Trump, Xi said, as per PTI, "President Trump, it is a great pleasure for me as well to meet you, and it feels very warm seeing you again because it's been many years. Since your re-election, we have spoken on phone three times, exchanged several letters and stayed in close contact. Given our different national conditions, we do not always see eye to eye with each other, and it is normal for the two leading economies of the world to have frictions now and then."

VIDEO | Busan, South Korea: In his opening remarks during a crucial face-to-face meeting with US President Donald Trump (@POTUS), Chinese President Xi Jinping says, "President Trump, it is a great pleasure for me as well to meet you, and it feels very warm seeing you again… pic.twitter.com/4yrmTRTGHH

— Press Trust of India (@PTI_News) October 30, 2025

 

Xi said that in the face of winds, waves, and challenges, he and his counterpart, as leaders steering US-China relations, should stay on the right course and ensure the steady sailing of the giant ship that represents the relationship between China and the United States.