Trump and Xi Jinping agreed to reduce trade tariffs

US President Donald Trump and Chinese Chairman Xi Jinping held a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea. The negotiations, which lasted 1 hour and 40 minutes, concluded with a series of statements that could significantly impact US-China relations and global trade.

The negotiations were conducted in a constructive and businesslike spirit and took place with the participation of representatives from both sides. The Chinese delegation, in addition to Xi Jinping, was led by Foreign Minister Wang Yi, Presidential Chief of Staff Cai Xi, Chairman of the State Planning Committee Zheng Shanjie, and Trade Minister Wang Wentao.

On the US side, Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, White House Chief of Staff Susan Wiles, and US Ambassador to China David Perdue participated. As Donald Trump was leaving South Korea, he spoke with journalists onboard Air Force One.

He described the meeting as "wonderful" and rated it "12 out of 10." The main outcome of the negotiations was the mutual reduction of trade barriers.

According to Trump, the average tariffs will be reduced from 57 percent to 47 percent. As a practical step, it was announced that China would immediately resume purchasing soybeans from the United States, which is crucial for American farmers.

In addition, customs tariffs associated with the production and distribution of fentanyl will be halved, down to 10 percent. This measure is aimed at fostering cooperation in combating illegal opioid trade.

Another important agreement was reached on the export of rare earth elements. The US President confirmed that this issue had been "completely resolved" and that China will continue to supply these strategic materials.

International security issues were also discussed at the meeting. Trump announced that the US and China would begin cooperation on resolving the situation in Ukraine, which could provide a new direction for diplomatic efforts to end the conflict.

Interestingly, the issue of Taiwan was not mentioned during the negotiations. The talks concluded with a plan to intensify high-level diplomatic exchanges.

Donald Trump announced that he would visit China in April next year, and Xi Jinping stated he would visit the US with a reciprocal visit in the near future. Read “Zamin” on Telegram!