US President Donald Trump announced today, after meeting with his Chinese counterpart, Xi Jinping, that will reduce from 20% to 10% the tariffs on China imposed due to the fentanyl, promising bilateral cooperation in various domains.
Trump and Xi Jinping concluded today a bilateral meeting of around two hours at an air base in Busan, in the south of South Korea, marked by promises of cooperation, gestures of detente in the trade war and an agreement to new meeting in 2026, this time on Chinese territory.
Upon leaving the meeting, Trump stated that Washington and Beijing “will work together” to end the war in Ukraine. The North American leader also revealed that did not address the Taiwan issue during the conversation with Xi. “It was not discussed,” he said, fulfilling what he had already anticipated the day before, when he indicated that he would only address the topic if Xi did so.
Trump announced that, following the meeting, he will reduce the tariffs he imposed this year on China from 20% to 10% in response to its role in fentanyl trafficking. “We had an incredible meeting,” declared the Republican, aboard Air Force One, on his way back to Washington. “I believe they will help us with fentanyl”he said, referring to commitments made by Beijing. Trump states that the drug originates in China and passes through Venezuela before reaching the United States.
According to Trump, an agreement was reached so that China resumes purchasing North American soybeanssuspended since May in the context of the trade war between the two countries. The issue has particular political weight for Trump, who has strong support among rural US voters.
The meeting was attended by several senior North American officials, including the Secretary of State, Marco Rubio, the Secretary of the Treasury, Scott Bessent, the trade representative Jamieson Greer and the US ambassador in Beijing, David Perdue.
Trump and Xi left the building where the talks took place together, exchanged words at the door and said goodbye with a handshake. Xi was the first to leave the site.
In his opening statement, Trump welcomed what he classified as a reunion with “a friend” and stressed that both had already agreed “on many things.” Xi Jinping said that “it is normal for the world’s two main economies to have friction from time to time”, but that China and the United States “are fully capable of prospering together.”
The US President also declared that “there are no longer restrictions on rare earths”referring to the measures imposed by Beijing in retaliation for US tariffs. China is the world’s main supplier of these essential metals for the technology, military and energy industries.
The meeting between the two leaders took place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, which officially begins this Friday in Gyeongju, about 76 kilometers from Busan.
Xi will remain in South Korea to participate in the event, while Trump returns to Washington today.
Despite the cordial tone of the summit and signs of rapprochement in specific areas, analysts warn that Structural differences between Washington and Beijing remain, especially when it comes to the control of sensitive technologies, the geopolitics of Asia-Pacific and the rivalry for global economic dominance.
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