U.S. President Donald Trump met Chinese leader Xi Jinping at a South Korean air base on Thursday, expressing optimism about striking a trade-war truce between the world’s two largest economies.
“We are going to have a very successful meeting, I have no doubt. But he is a very tough negotiator,” Trump said as he shook hands with Xi at the start of the talks, held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit.
Xi, who appeared calm during the exchange, told Trump through a translator that “it is normal for the two leading economies of the world to have frictions now and then,” adding that both sides had reached “a fundamental consensus on addressing each other’s primary concerns.”
The meeting, the first between both leaders since 2019, concludes Trump’s five-day Asia tour during which he announced trade deals with Japan, South Korea, and several Southeast Asian countries.
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Ahead of the talks, China bought its first cargoes of U.S. soybeans in months, signalling easing tensions. U.S. Treasury Secretary Scott Bessent said Beijing was expected to delay new export controls on rare earth minerals for a year and resume key agricultural imports under a “substantial framework” to be agreed by both leaders.
Trump has also hinted at reducing U.S. tariffs on Chinese goods in exchange for Beijing’s cooperation in curbing the flow of fentanyl precursors to the United States. “We are working on some strong agreements,” he said, adding that discussions could include TikTok and other trade-related issues.
The White House said it hopes the Busan summit will mark the start of renewed engagement between Washington and Beijing, with more meetings planned in the coming year.
However, analysts warn that tensions remain high over Taiwan and technology exports, and that any truce may prove temporary as both nations compete for global economic and strategic dominance.
