An important meeting between US President Donald Trump and Chinese President Xi Jinping took place in Busan, South Korea. This meeting marked the first face-to-face meeting between the two heads of state since 2019 and marked the culmination of Trump's five-day trip across Southeast Asia, reports reuters.com.
The meeting took place at the South Korean military airfield and lasted almost two hours. During the negotiations, issues of easing trade tensions, tariff policy, and strategic cooperation between the two largest economies - the USA and China - were discussed.
Donald Trump said at the beginning of the conversation: "We will have a very productive meeting, I have no doubt about it. But I know well that he (Xi Jinping) is a very harsh negotiator." Xi reacted seriously to these words, saying that "it is natural that there are sometimes disagreements between the two leading economies."
According to the Chinese leader, the trade delegations of the two countries have reached an "important agreement on key issues" in recent days. "I am ready to work with President Trump to create a solid foundation for China-US relations," he added.
At the end of the meeting, Trump and Xi warmly exchanged handshakes. Although official sources have not yet disclosed the details of the negotiations, experts assess this dialogue as a "new stage" in relations between the two countries.
Against the backdrop of the negotiations, the global stock markets reacted positively. Chinese exchanges reached their highest level in the last decade, while the yuan recorded a one-year maximum against the dollar. This situation strengthened investors' confidence in the reduction of trade tensions between the two countries.
At the same time, Trump expressed his intention to partially reduce tariffs imposed on China during the negotiations. In return, Beijing agreed to stop the export flow of chemicals used in the production of the synthetic drug fentanyl, which is widespread in the USA.
Trump also announced that he is close to reaching an agreement on the social network TikTok, which may be banned in the US. Reuters reports that during these negotiations, China requested the lifting of the 20% tariff on fentanyl, easing restrictions on US exports of advanced technologies, and lifting new port charges on Chinese ships.
At the end of the week, it was reported that US Treasury Secretary Scott Bessent held an additional meeting with the Chinese delegation to discuss the issue of postponing the export control imposed on rare earth metals for one year. These products are very important for the high-tech industries of the USA.
One of the main goals of Trump's trip to Asia was to limit China's monopoly on the rare earth metals market. Having signed new cooperation agreements with Japan and the countries of Southeast Asia in this direction, he took a step towards diversification of strategic resources.
Washington considers the meeting a "reliable foundation" for future negotiations and mutual visits of the heads of the two states. According to experts, if this process continues consistently, the tension in US-China relations may gradually ease, creating a stable environment for the global economy.
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