President Trump announced a sweeping new understanding with Chinese President Xi Jinping covering trade, agriculture, energy, and national security following their high-stakes meeting in South Korea. The two leaders reached key agreements including tariff cuts, renewed Chinese purchases of U.S. goods, and expanded cooperation to combat fentanyl trafficking.
Speaking aboard Air Force One after the talks, Trump hailed the summit as “an amazing meeting,” rating the discussions a “12 out of 10.”
Before the meeting, Xi told Trump, “I always believed that China’s development goes hand-in-hand with your vision to make America great again. Our two countries are fully able to help each other succeed and prosper together.”
Trump confirmed that U.S. tariffs on Chinese imports will be trimmed to 47 percent from 57 percent, with the reduction tied to Beijing’s pledge to crack down on fentanyl trafficking and resume large-scale purchases of American soybeans and other agricultural products. Xi, Trump said, will work “very hard to stop the flow” of fentanyl, a synthetic opioid that has become the leading cause of overdose deaths in the United States.
China also agreed to pause newly imposed export controls on rare earth elements for one year, maintaining the flow of minerals critical to U.S. manufacturing, defense, and energy industries. The leaders also reached consensus on expanding agricultural trade and addressing ownership issues surrounding the app TikTok, which Trump has sought to bring under U.S. control. Both nations will suspend tit-for-tat port fees on shipping, a move aimed at easing tensions in the global freight and shipbuilding sectors.
Trump said China will begin purchasing American energy as part of a broader economic partnership, signaling that a major deal may soon be reached involving oil and gas exports from Alaska. His administration has been promoting a proposed $44 billion LNG export project in the state.
In a Truth Social post following the summit, Trump said the new agreements “will deliver prosperity and security to millions of Americans,” thanking Xi for his cooperation. He also announced plans to visit China in April ahead of hosting the Chinese leader in Washington later next year.
Shortly before the meeting began, Trump authorized the U.S. military to resume nuclear weapons testing for the first time in over 30 years, citing the growing arsenals of Russia and China as justification for the decision.
In his post about the meeting, Trump thanked Asian allies including Malaysia, Japan, South Korea, Australia, Canada, New Zealand, Singapore, Thailand, and Vietnam for their hospitality during the summit week, declaring that the United States “is strong, respected, and admired again—and the best is yet to come.”
Sources: Reuters / President Trump on Truth Social
