British News Agency

Speaking to reporters aboard Air Force One as he departed South Korea, Trump said his meeting with Xi was “wonderful” and that “many decisions were made.”

“The rare earth issue has been resolved,” Trump said, adding that this is a one-year agreement to be renegotiated annually. He stated that fentanyl-related tariffs would be reduced from 20% to 10% and take effect immediately, while tariffs on Chinese exports would be cut from 57% to 47%.

In return, Beijing “will work hard to stop fentanyl” and resume purchases of American soybeans and other agricultural products. According to analysts, soybean futures on the Chicago Board fell 1.6%, while China’s CSI Rare Earth Index rose by more than 2%.

Regarding Nvidia chip sales to China, Trump said the two sides discussed “a large number of chips” but did not discuss the most advanced Blackwell chips. “They will negotiate with Nvidia and other companies for chip purchases,” he said, noting that Taiwan was not part of the talks.

Trump said he would visit China in April, after which Xi would visit the United States, though he did not provide details on the timing of the visit.

He added that tensions would not completely disappear, as several bilateral issues at the heart of U.S.-China rivalry remain unresolved. It was the first meeting between Trump and Xi in six years and lasted one hour and forty minutes.

In a statement published by China’s state news agency Xinhua after the meeting, Xi called for “dialogue instead of confrontation” and emphasized the need to maintain regular communication at the working level. The statement said both sides agreed to strengthen cooperation in trade, energy, and the economy, and to facilitate cultural and human exchanges.