Xi Jinping lifts export restrictions on rare earths and Trump visits China.
US and Chinese leaders meet in South Korea and announce measures to reduce trade tensions.
247 - US President Donald Trump and Chinese President Xi Jinping met on Thursday (30) in South Korea, in their first face-to-face meeting since 2019. The meeting was considered a milestone for the resumption of dialogue between the two largest economic powers on the planet.
According to RFITrump announced that the issue of Chinese rare earth exports to the United States is "resolved." He stated that China will lift restrictions on these minerals, essential for the production of semiconductors and batteries, and that the United States will reduce import tariffs from 57% to 47%.
Markets react optimistically to the new agreement.
The announcements had a positive impact on the global financial market. Stock exchanges reacted positively, driven by expectations of a trade truce between Washington and Beijing.
Before the meeting, Trump highlighted his relationship with Xi. "It's a great honor to be with a longtime friend," said the US president. He added that the two had already "agreed on many things and would agree on many more."
Xi Jinping, in turn, stated that it is natural for "the two largest economies in the world to have frictions from time to time," but emphasized that the countries must cooperate to face global challenges.
A friendly atmosphere and a focus on dialogue.
The meeting, which lasted about an hour and a half, was described by observers as cordial and productive. Witnesses reported that Trump kept his eyes fixed on Xi throughout the conversation, while campaign manager Susie Wiles adjusted the translation channel and Secretary of State Marco Rubio closely monitored the press reaction.
During a previous press conference, Trump avoided answering questions about his recent defense of resuming nuclear testing in the United States, a topic addressed in a post on the Truth Social network. The president simply thanked everyone and ended the interview.
"A brilliant meeting" and promises of cooperation.
After the meeting, aboard Air Force One, Trump described it as "brilliant" and announced an "exceptional set of decisions." Among them are the suspension, for 12 months, of Chinese restrictions on rare earth exports and the reduction, by the United States, of tariffs on fentanyl-related products from 20% to 10%.
According to Trump, the measure was agreed upon after Beijing committed to strengthening the fight against shipments of chemical precursors used in the manufacture of the drug. The American leader also stated that he believes a new trade agreement with China could be signed "very soon," valid for one year.
War in Ukraine and diplomatic agenda
According to the report, the President of the United States stated that the issue of Taiwan "was not discussed," but confirmed that the war in Ukraine was addressed "intensely." According to Trump, both leaders committed to seeking a diplomatic solution to the conflict.
At the end of the meeting, Trump announced that he will visit China in April 2026 and that Xi Jinping will reciprocate the visit shortly thereafter. While the American leader returned to Washington, the Chinese president went to Gyeongju, where he is participating in the APEC (Asia-Pacific Economic Cooperation) summit.
