Busan [South Korea], October 30 (ANI): United States President Donald Trump on Thursday said he had a “truly great meeting” with Chinese President Xi Jinping in South Korea, where the two leaders reached several key agreements to ease trade tensions and strengthen cooperation on multiple fronts.
In a post on his Truth Social platform, Trump wrote, “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. We agreed on many things, with others, even of high importance, being very close to being resolved.”
Trump said Xi had authorized China to begin purchasing “massive amounts” of American farm goods, including soybeans and sorghum—a move he described as “a great gesture” toward US farmers.
“Our farmers will be very happy! As I said once before during my first Administration, farmers should immediately go out and buy more land and larger tractors,” Trump wrote, thanking Xi for the decision.
Speaking to reporters aboard Air Force One on his return to Washington, Trump said, “Large amounts of soybeans and other farm products are going to be purchased, starting immediately. President Xi authorized it yesterday, and I appreciated that. It was a very nice gesture.”
Earlier this year, China had halted the purchase of US soybeans after Trump announced higher tariffs on Chinese imports, leaving American farmers with massive unsold stocks. According to CNN, the Trump administration had considered a financial aid plan to support farmers, but the prolonged government shutdown delayed its rollout.
Trump also announced that Washington and Beijing had reached a one-year trade pact that would reduce tariffs on Chinese imports from 57 percent to 47 percent.
“We have a deal,” Trump said. “Every year we’ll renegotiate the deal, but I think it will go on for a long time, long beyond the year.”
The 10 percent tariff reduction, he said, came after China agreed to take “strong action” against the smuggling of fentanyl, a deadly synthetic drug that has caused a severe public health crisis in the United States.
“It was 57, now it’s 47. We reduced it by the fentanyl because I believe they are really taking strong action,” he said. “We’ve already seen the action on fentanyl, and they’re taking very strong steps.”
Trump said China also agreed to purchase American energy, including oil and gas from Alaska, and to continue the flow of rare earth minerals, magnets, and other critical materials “openly and freely.”
He mentioned that a “large-scale energy deal” between US and Chinese companies could take place soon, with energy leaders from both nations expected to meet to finalize the agreement. According to the White House, the issue of rare earth minerals—crucial for electronics and defense industries—has now been “settled.”
Wrapping up his five-day trip to Asia, Trump thanked regional countries for their hospitality. “After this historic trip to Asia, I am now heading back to Washington, D.C. I want to thank the great countries of Malaysia, Japan, and South Korea for being so generous, gracious, and hospitable,” he wrote on Truth Social.
He also thanked Australia, Canada, New Zealand, Singapore, Thailand, and Vietnam for attending a dinner hosted by South Korean President Lee Jae Myung. “Hundreds of billions of dollars are being brought into our country because of them. Our nation is strong, respected, and admired again, and the best is yet to come!” Trump added.
The Trump-Xi meeting came amid heightened tensions between the world’s two largest economies, following months of trade disputes and export restrictions. Earlier this month, Beijing imposed curbs on critical exports, while Washington warned of possible bans on software-based exports to China.
The talks took place just a day before the APEC Economic Leaders’ Meeting in Gyeongju, scheduled from October 31 to November 1. The US had earlier stated that its priorities included curbing fentanyl flows, ensuring TikTok’s divestment from ByteDance, and addressing tariffs and technology access issues.
Before returning to Washington, the White House described Trump’s Asia trip as a “remarkable” success marked by “major diplomatic and economic breakthroughs.”
During his visits to Malaysia, Japan, and South Korea, Trump attended the signing of the Cambodia-Thailand peace deal, met Japan’s first female Prime Minister, Sanae Takaichi, and held his much-anticipated meeting with Xi Jinping.
According to a White House-affiliated post on X, Trump’s visit “secured billions of dollars in new investments, announced the end of a regional conflict, and led to a historic agreement with China.” (ANI)
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