‘Amazing’ Meeting: Trump and Xi Secure Deal on Tariffs, Tech, and Rare Earths

President Donald Trump has described his meeting with Chinese President Xi Jinping as “amazing,” after the two leaders secured a one-year deal to de-escalate their trade war. The pact includes US tariff cuts and a pause on a controversial US tech ban.
In the agreement, the US will slash some tariffs and export controls. It will also postpone for one year a measure that would have prevented thousands of Chinese firms from accessing US technology if they had partial ownership by a sanctioned company.
In return, China made key commitments. It will purchase US soybeans and, crucially, will not tighten restrictions on the export of rare earths or the technology to process them. This latter point defuses a major threat from Trump, who had considered a 100% import tax.
Following the meeting, President Xi spoke at the APEC forum in South Korea, calling for “genuine multilateralism.” He warned against “breaking supply chains” and urged nations to “join hands rather than letting go.”
The positive relations are set to continue with reciprocal visits. Trump announced an April trip to China, and Xi is expected to visit the US, with Palm Beach and Washington D.C. as possible locations.