Presidents Donald Trump and Xi Jinping have sealed a comprehensive one-year deal covering tariffs, technology, and rare earths, signaling a major pause in their trade dispute. Trump described the meeting as “amazing.”
The US agreed to slash some tariffs and export controls. It also committed to postponing a new measure for one year that would have prevented Chinese firms with ties to sanctioned companies from accessing US technology, a key demand from Beijing.
In exchange, China agreed to purchase US soybeans and, crucially, not to tighten restrictions on the export of rare earth minerals. This concession removes the threat of a 100% US import tax on the vital materials.
Following the successful meeting, President Xi addressed the APEC forum in Gyeongju, South Korea. He called for “genuine multilateralism” and warned against “breaking supply chains,” urging nations to “join hands.”
The two leaders also announced a diplomatic exchange, with Trump planning to visit China in April and Xi to visit the US, potentially in Florida or Washington, D.C., sometime after that.