Thu, 30 Oct 2025

Thu, 30 Oct 2025 Trump hails 'amazing' meeting with China's Xi but no formal trade deal agreed

The US president and his Chinese counterpart met face-to-face for the first time in six years.
The talks were described by Trump as "amazing" and Beijing said they reached a consensus to resolve major trade issues. Relations have been tense since Trump imposed new tariffs on China. Trump got China to agree to suspend export control measures on rare earths, which are crucial for the production of everything from smartphones to fighter jets. A key win for Trump was getting China to start immediately buying large amounts of soybeans and other farm products, as retaliatory tariffs had halted US imports in the past. The US also dropped part of the tariffs it has levied on Beijing over the flow of ingredients used in making fentanyl. However, not all tariffs will be lifted, meaning that goods arriving in the US from China are still being taxed at a rate of over 40%. China extended an invitation to Trump to visit China in April and there was no mention of a breakthrough on TikTok. Xi Jinping said afterwards that the two sides would work on delivering outcomes that will serve as a "reassuring pill" for both countries' economies. Trump described the talks as a truce, saying business can now focus on long-standing issues without worrying about tariffs every 90 days. The US-China Business Council welcomed the news on tariffs and rare earths, describing these as the most significant outcome of the talks.
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