Trump and Xi Reach Landmark Deal in Busan

Following a closely-followed meeting with Chinese President Xi Jinping in Busan on 30 October 2025, US President Donald Trump gave a press briefing on Air Force One to outline some of the key takeaways from the landmark agreement between US and China. Trump described the deal as ‘an agreement on almost everything’ as it covers #RareEarths, #soybeans, and #fentanyl, to name a few.

China agreed to postpone its export controls on Rare Earth Elements (#REE) and related products for one year. With regards to extra port fees on each other’s ships, both side also agreed to a pause of one year. In the case of #AI chips, the Chinese side will resume talks with Nvidia. As a goodwill gesture, Trump decided to would reduce its #tariffs on China by 10%, from 57% to 47%.

In a post timed just prior to the meeting, Trump tweeted on Truth Social that he is reauthorizing the resumption of nuclear testing in response other countries’ upgrading their nuclear capabilities. To the displeasure of Trump, Putin conducted nuclear missile testing during his Asian tour. It is worth noting that the USA stopped nuclear testing since 1992. Trump also believes that China is rapidly upgrading its nuclear arsenal and will be at par with the US within five years.

The meeting was initially scheduled for two hours, but actually lasted one hour and forty minutes. At the end of the meeting, no formal contract was signed although Secretary Bessent stated afterward that one is expected to be signed soon. Some measures will come into effect immediately, while others might require ‘finalization.’

As a sign of the detente, Trump also announced that he plans to visit China in April 2026. Subsequently, Xi is expected to visit the USA “some time after that,” with a proposed stopover at Trump’s Mar-a-Lago estate in Palm Beach, Florida. Right after the #G2 Summit, Trump is expected to return to the USA, while Xi intends to stay in South Korea for the APEC Summit 2025 (#APECKorea2025).