Trump, Xi agree on tariff reductions in step toward easing trade tensions

The high-level meeting took place at the Naraemaru reception hall inside an Air Force base in Busan, shortly after Xi’s arrival for a three-day state visit. The talks followed the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, where Trump described the discussions as “a great success.”

Following the summit, President Trump announced that tariffs on Chinese goods would be reduced from 57% to 47%, while duties on fentanyl-related imports from China would be cut from 20% to 10%. “We’re going to have a very successful meeting,” Trump said ahead of the talks, adding with a smile that Xi “is a very tough negotiator.”

The reduction comes as part of a broader agreement under which China pledged to intensify its crackdown on fentanyl exports and to suspend planned export controls on rare earth minerals for one year. “The issue of rare earths has been fully resolved — it’s a deal for the world,” Trump said, noting that the terms would be reviewed annually.

The meeting also touched on global security issues. Trump revealed that both leaders had agreed to cooperate on efforts to resolve the conflict in Ukraine, adding that Xi had expressed willingness to assist in peace efforts.

Trump later wrote on Truth Social that he was “very much looking forward” to visiting China in April 2026 to “build on the progress achieved in Busan.”

While analysts remain cautious about a full resolution to the prolonged trade war, Thursday’s agreements were widely seen as a positive step toward restoring stability between the world’s two largest economies.

Earlier, it was reported that U.S. President Donald Trump announced he had directed the Department of War to “immediately begin testing nuclear weapons,” citing the need to maintain parity with similar programs conducted by other nations.