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Trump, Xi Meeting Sets Stage for Renewed Peace
(MENAFN) US President Donald Trump announced that his recent discussion with Chinese President Xi Jinping would open the door to enduring peace between the two nations.
The two heads of state met for the first time in six years on Thursday, during the sidelines of the APEC summit in Busan, South Korea.
According to Beijing, both parties reached a mutual understanding to address “major trade issues.”
As part of the new arrangement, China consented to temporarily halt its most recent restrictions on rare-earth exports, while the United States agreed to make reciprocal tariff reductions.
The accord also involves a US commitment to ease duties on Chinese imports and pause investigations into Beijing’s maritime and logistics industries.
“My G2 meeting with President Xi of China was a great one for both of our countries,” Trump posted on Truth Social on Saturday. “This meeting will lead to everlasting peace and success. God bless both China and the USA!”
The relationship between Washington and Beijing has long been affected by trade frictions that began when Trump first imposed extensive tariffs on Chinese exports during his initial term.
Under the newly established deal, the US will decrease tariffs on Chinese goods from 57% to 47% and suspend export bans targeting selected Chinese firms.
Additionally, the US plans to cut tariffs related to fentanyl, while China will make adjustments to its countermeasures.
Beijing announced it would lift its rare-earth export curbs for a one-year period as it explores long-term strategies.
These materials, essential for electronic devices and defense technologies, were previously restricted after Washington intensified its own limits on the export of advanced semiconductors and chip-manufacturing tools.
The two heads of state met for the first time in six years on Thursday, during the sidelines of the APEC summit in Busan, South Korea.
According to Beijing, both parties reached a mutual understanding to address “major trade issues.”
As part of the new arrangement, China consented to temporarily halt its most recent restrictions on rare-earth exports, while the United States agreed to make reciprocal tariff reductions.
The accord also involves a US commitment to ease duties on Chinese imports and pause investigations into Beijing’s maritime and logistics industries.
“My G2 meeting with President Xi of China was a great one for both of our countries,” Trump posted on Truth Social on Saturday. “This meeting will lead to everlasting peace and success. God bless both China and the USA!”
The relationship between Washington and Beijing has long been affected by trade frictions that began when Trump first imposed extensive tariffs on Chinese exports during his initial term.
Under the newly established deal, the US will decrease tariffs on Chinese goods from 57% to 47% and suspend export bans targeting selected Chinese firms.
Additionally, the US plans to cut tariffs related to fentanyl, while China will make adjustments to its countermeasures.
Beijing announced it would lift its rare-earth export curbs for a one-year period as it explores long-term strategies.
These materials, essential for electronic devices and defense technologies, were previously restricted after Washington intensified its own limits on the export of advanced semiconductors and chip-manufacturing tools.
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