Trump Calls Xi Summit ‘Amazing’ as US-China Agree on Trade Truce, But No Full Deal Reached

In a key meeting at the APEC summit in Busan, South Korea, US President Donald Trump and Chinese President Xi Jinping discussed trade issues. They agreed to pause some tariffs and restrictions, but stopped short of a complete agreement. This step aims to ease tensions in their ongoing trade dispute.

US President Donald Trump described his recent talks with China’s President Xi Jinping as “amazing.” The leaders met on Thursday in Busan, South Korea, during the Asia-Pacific Economic Cooperation (APEC) summit. The discussion lasted about one hour and 40 minutes. Trump rated the meeting highly, saying it was “a 12 with 10 being the best.” He added that both sides made progress on tough trade matters.

The meeting comes amid years of strain between the US and China over trade. High tariffs have hurt businesses and farmers on both sides. China had cut back on buying US soybeans and placed limits on exporting rare earth metals, which are vital for tech and defense. The US responded with its own tariffs, including a 20% rate on goods linked to fentanyl, a drug crisis in America.

While no formal trade deal was signed, the leaders announced several steps forward. They agreed to a one-year truce on many tariffs and trade barriers. This includes the US cutting its fentanyl-related tariffs in half, from 20% to 10%. Overall, US tariffs on Chinese goods will drop from 57% to 47%. In return, China promised to strengthen actions against fentanyl chemicals entering the US.

China also agreed to restart buying US soybeans right away. It plans to purchase 12 million metric tons this year and at least 25 million tons each year for the next three years. This matches levels before the trade fight started and will help American farmers. China will also buy more US energy products. Both countries will pause extra fees on ships using each other’s ports and halt some tech export rules.

On rare earth metals, China delayed new limits on five types it announced recently. Other restrictions from earlier this year stay in place for now. The US agreed not to expand controls on tech sales to Chinese firms. The leaders also pledged to work together on ending the war in Ukraine.

Trump said the talks show China is serious about fixing issues. “Our farmers will be very happy,” he posted online. China’s foreign ministry called the results a “consensus” to solve big trade problems. They stressed that no one wins in a trade war.

Experts see this as a short-term fix. It calms markets and slows the trade war, but deep differences remain. China has grown less dependent on US goods, buying only 11% of its imports from America in recent months, down from nearly 20%. Both sides plan to meet again soon. Trump will visit China in April, and Xi may come to the US later.

This truce offers hope for steadier relations. It could boost global trade, but a full deal will take more work. Businesses watch closely for lasting changes.