President Donald Trump announced Thursday that the United States will reduce tariffs on Chinese imports following what he called “an amazing meeting” with Chinese President Xi Jinping, signaling a potential thaw in the two nations’ turbulent trade relationship.
The announcement came after the leaders’ summit at Gimhae International Airport, which concluded Trump’s multi-nation Asia tour that also included Malaysia and Japan. The talks yielded agreements on agricultural purchases, fentanyl enforcement, and a one-year suspension of Chinese restrictions on rare-earth mineral exports.
"I had a truly great meeting with President Xi of China. There is enormous respect between our two Countries, and that will only be enhanced with what just took place…" – President Donald J. Trump pic.twitter.com/6wtEeVbiWp
— The White House (@WhiteHouse) October 30, 2025
Trump described the roughly 100-minute session as “an outstanding group of decisions” on both economic and security matters. Xi, for his part, expressed optimism about restoring trust, telling Trump that “it feels very warm seeing you again because it’s been many years” and that while “it is normal for the two leading economies of the world to have frictions now and then,” both “can still find ways to thrive side by side.”
Under the accord, Trump said China would “begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products,” while Beijing pledged to “work very hard to stop the death that’s coming in” from fentanyl shipments. In return, the United States will reduce tariffs on Chinese goods by 10 percentage points — from 20% to 10%.
However, a White House aide later clarified that effective rates would settle in the “45–47% range,” reflecting adjustments linked to China’s performance on curbing fentanyl trafficking. Trump emphasized that “I believe he’s going to work very hard to stop the death that’s coming in,” highlighting the administration’s focus on stemming opioid-related deaths.
On minerals and technology, Trump said China had agreed to suspend planned restrictions on rare-earth exports for one year, with annual reviews built into the framework. Discussions also touched on semiconductor sales, including potential increased purchases from Nvidia, though China’s access to the firm’s most advanced chips remains restricted.
“We have a deal,” Trump said, framing the pact as a renewable, year-by-year arrangement. “Every year we’ll renegotiate the deal, but I think it’ll go on for a long time.”
The meeting opened with cordial remarks between the two leaders. “It’s an honor to be with a friend of mine,” Trump said before their private talks. “I think we’ve already agreed to a lot of things.”
The diplomatic gestures will continue in coming months, with Trump scheduled to visit China in April and Xi expected to travel to the United States later in the year.
Afterward, Trump celebrated the summit on Truth Social, calling it “truly great.” He praised Xi for authorizing new Chinese purchases of “massive amounts” of American agricultural goods and for pledging to keep the flow of “Rare Earth, Critical Minerals, Magnets, etc., openly and freely.”
While the developments mark a rare moment of cooperation, both sides signaled that deeper disagreements — especially over technology and industrial policy — will require ongoing negotiation.
