Important Trade Agreements Between Trump and Xi Jinping!

Trump's Historic Summit with Xi Jinping

U.S. President Donald Trump and Chinese President Xi Jinping met during the APEC summit in South Korea. This was Trump's first face-to-face meeting since the start of his second term and lasted approximately one hour and 40 minutes.

After the meeting, Trump announced that the tariff rate on fentanyl would decrease from 20% to 10%. This new regulation will reduce the tax on Chinese exports from 57% to 47%. Trump stated that the fentanyl issue is complex, expressing his belief that Xi would be diligent in addressing this problem.

In return, Beijing pledged to take more measures to prevent fentanyl trafficking and stated that it would resume large-scale imports of U.S. soybeans and other agricultural products. Trump appreciated China's willingness to restart large purchases of soybeans.

Moreover, Trump noted that an agreement had been reached between U.S. and China regarding rare earths and critical minerals, indicating that this matter would be renewed every year.

Trump stated that he discussed the sale of Nvidia (NASDAQ:NVDA) chips to China with Xi, but it was emphasized that this issue was between Nvidia and China. He explained that there were no negotiations regarding the sale of the next-generation Blackwell chips.

When asked whether a trade agreement with China would be signed, Trump responded, "very soon." He emphasized that the meeting was "great," rating the results as “12 out of 10.”

Trump noted that the issue of Taiwan was not addressed in the discussions, but the topic of Ukraine was extensively discussed. He stated that the U.S. is willing to cooperate with China to resolve this conflict.

Xi emphasized that China's growth aligns with Trump's "Make America Great Again" vision, stating, "China and U.S. should be partners and friends." He expressed that both countries could succeed together.