Commerce takeaways from Trump-Xi assembly

[ad_1] US President Donald Trump mentioned he had an “wonderful” assembly Thursday with China’s high chief Xi Jinping that produced crucial selections.

The primary official Chinese language feedback on the assembly have been much less particular and recommended any commerce deal will not be achieved.

Trump met with Xi on the sidelines of Pacific Rim summit gatherings in South Korea, the place the 2 leaders agreed to dial again a few of their commerce measures and work collectively to resolve others.

The one hour and 40 minute assembly's agenda seems to not have touched on some perennial issues corresponding to tensions over the self-governed island of Taiwan.

However Trump mentioned China had agreed to purchase massive portions of American farm merchandise and to make sure regular provides of uncommon earths components utilized in many industries.

Learn extra Trump hails ‘success’ of commerce talks with Xi

Listed here are among the key takeaways from the assembly, based mostly on feedback by Trump and US and Chinese language officers:

Trimming tariffs Trump advised reporters whereas heading house on Air Pressure One which he had agreed to chop his 20 % tariff improve, imposed over China's position in producing fentanyl and chemical substances used to make it, to 10 %. China confirmed that may take common tariffs on Chinese language items to 47 %, down from 57 %.

The 2 sides agreed to proceed to work on cracking down on illicit flows of the drug into the US.

Different tariff will increase stay in place, however for now, the 2 sides have prolonged a truce on even steeper tariff will increase that started in Might when Trump and Xi agreed to permit time to work on a framework for resolving commerce tensions.

'There aren't any winners' with US-China deal

To show this content material from YouTube, you will need to allow commercial monitoring and viewers measurement.

Settle for Handle my selections Certainly one of your browser extensions appears to be blocking the video participant from loading. To look at this content material, you could must disable it on this website.

Strive once more

<img fetchpriority="low" src="https://s.france24.com/media/display/aa56cbca-b5a2-11f0-ad28-005056a97e36/w:1280/p:16x9/EN-20251030-080307-081045-CS.jpg" srcset="https://s.france24.com/media/display/aa56cbca-b5a2-11f0-ad28-005056a97e36/w:388/p:16x9/EN-20251030-080307-081045-CS.jpg 388w,https://s.france24.com/media/display/aa56cbca-b5a2-11f0-ad28-005056a97e36/w:720/p:16x9/EN-20251030-080307-081045-CS.jpg 720w,https://s.france24.com/media/display/aa56cbca-b5a2-11f0-ad28-005056a97e36/w:1024/p:16x9/EN-20251030-080307-081045-CS.jpg 1024w,https://s.france24.com/media/display/aa56cbca-b5a2-11f0-ad28-005056a97e36/w:1280/p:16x9/EN-20251030-080307-081045-CS.jpg 1280w" sizes="(max-width: 639px) calc(100vw - 32px), (max-width: 1076px) calc(100vw - 44px), 850px" width="1280" height="720" alt="'There are no winners' with US-China deal" loading="lazy" class="a-img "/> © France 24 Soybeans and chips Trump mentioned he mentioned US gross sales of pc chips to China. Trump and former President Joe Biden had imposed restrictions on entry to probably the most superior chips corresponding to these used for synthetic intelligence (AI).

China will converse with Silicon Valley chipmaker Nvidia about buying their pc chips, he mentioned.

That will not embody its next-generation Blackwell AI chip, he mentioned, “however numerous the chips”.

“We make nice chips,” Trump advised reporters on Air Pressure One. “Nvidia’s the chief.”

Trump mentioned the Chinese language aspect has dedicated to purchasing “an amazing quantity” of American soybeans, sorghum and different farm merchandise.

The Chinese language aspect didn't present any particulars, however US Treasury Secretary Scott Bessent later mentioned China had agreed to purchase 25 million metric tons of US soybeans yearly as a part of the settlement. China will begin by buying 12 million metric tons of soybeans from the US between now and January, he mentioned.

"Trump sees he's face-to-face with somebody who won't budge" in relation to Xi

To show this content material from YouTube, you will need to allow commercial monitoring and viewers measurement.

Settle for Handle my selections Certainly one of your browser extensions appears to be blocking the video participant from loading. To look at this content material, you could must disable it on this website.

Strive once more

<img fetchpriority="low" src="https://s.france24.com/media/display/becb5ea2-a9ba-11f0-8041-005056a90284/w:1280/p:16x9/151025-trump-xi-jinping2019-m.jpg" srcset="https://s.france24.com/media/display/becb5ea2-a9ba-11f0-8041-005056a90284/w:388/p:16x9/151025-trump-xi-jinping2019-m.jpg 388w,https://s.france24.com/media/display/becb5ea2-a9ba-11f0-8041-005056a90284/w:720/p:16x9/151025-trump-xi-jinping2019-m.jpg 720w,https://s.france24.com/media/display/becb5ea2-a9ba-11f0-8041-005056a90284/w:1024/p:16x9/151025-trump-xi-jinping2019-m.jpg 1024w,https://s.france24.com/media/display/becb5ea2-a9ba-11f0-8041-005056a90284/w:1280/p:16x9/151025-trump-xi-jinping2019-m.jpg 1280w" sizes="(max-width: 639px) calc(100vw - 32px), (max-width: 1076px) calc(100vw - 44px), 850px" width="1280" height="720" alt="Poignée de main entre Donald Trump, le président américain, et son homologue chinois Xi Jinping à Osaka au Japon en 2019." loading="lazy" class="a-img "/> La dernière fois que Donald Trump et Xi Jinping se sont rencontrés remonte à 2019 à Osaka au Japon. Ils doivent se retrouver en Corée du Sud fin octobre. AP - Susan Walsh Beijing took intention at US agricultural exports quickly after Trump started saying hikes on tariffs after he returned to the White Home in January. Cutbacks in Chinese language purchases of soybeans, beef and different merchandise have hit US farmers laborious.

“Farmers ought to instantly exit and purchase extra land and bigger tractors,” Trump wrote in a publish on Reality Social. “I wish to thank President Xi for this!”

The US soybean business grew in response to Chinese language demand beginning again within the Nineteen Nineties, when China started its speedy financial rise and turned to international producers to assist feed its folks. Protein-rich soybeans are a necessary a part of the food plan.

Whereas China depends on home crops for steamed beans and tofu, it wants way more soybeans for oil extraction and animal feed. In 2024, China produced 20 million metric tons of soybeans, whereas importing greater than 105 million metric tons.

There have been no particular particulars on different buy agreements.

Uncommon earths and TikTok reels Beijing mentioned it is going to work with the Trump administration to resolve points associated to TikTok’s possession.

“China will work with the US to correctly resolve points associated to TikTok,” China’s Commerce Ministry mentioned after Xi's assembly with Trump.

It gave no particulars on any progress towards ending uncertainty in regards to the destiny of the favored video-sharing platform within the US. The Trump administration had been signaling that it might have lastly reached a cope with Beijing to maintain TikTok working there.

Trump advised reporters that China had agreed to not tighten restrictions on exports of uncommon earths and the expertise and gear used to course of them. Trump earlier had threatened a one hundred pc import tax due to China’s uncommon earth restrictions.

To show this content material from YouTube, you will need to allow commercial monitoring and viewers measurement.

Settle for Handle my selections Certainly one of your browser extensions appears to be blocking the video participant from loading. To look at this content material, you could must disable it on this website.

Strive once more

<img fetchpriority="low" src="https://s.france24.com/media/display/ab4832fc-b599-11f0-8146-005056bf30b7/w:1280/p:16x9/EN-20251030-133312-133705-CS.jpg" srcset="https://s.france24.com/media/display/ab4832fc-b599-11f0-8146-005056bf30b7/w:388/p:16x9/EN-20251030-133312-133705-CS.jpg 388w,https://s.france24.com/media/display/ab4832fc-b599-11f0-8146-005056bf30b7/w:720/p:16x9/EN-20251030-133312-133705-CS.jpg 720w,https://s.france24.com/media/display/ab4832fc-b599-11f0-8146-005056bf30b7/w:1024/p:16x9/EN-20251030-133312-133705-CS.jpg 1024w,https://s.france24.com/media/display/ab4832fc-b599-11f0-8146-005056bf30b7/w:1280/p:16x9/EN-20251030-133312-133705-CS.jpg 1280w" sizes="(max-width: 639px) calc(100vw - 32px), (max-width: 1076px) calc(100vw - 44px), 850px" width="1280" height="720" alt="" loading="lazy" class="a-img "/> © France 24 “That roadblock is gone now,” he mentioned. He mentioned Beijing had agreed to not implement for a yr its just lately introduced controls that had raised considerations over entry to the important minerals utilized in many industries, together with electrical automobiles and plane.

China and the US likewise mentioned they'd not impose greater port charges on one another's vessels.

In his publish on Reality Social, Trump mentioned China had agreed to start buying oil and gasoline from Alaska, including that officers can be assembly to see “if such an Power Deal could be labored out”.

'A vicious cycle' Xi famous that negotiating groups from each international locations had reached a consensus, a probable reference to talks held in Malaysia final weekend, in keeping with a report on the assembly distributed by state media.

The Chinese language chief mentioned the groups ought to full follow-up work as quickly as potential to ship tangible outcomes that may present “peace of thoughts” to China, the US and the remainder of the world.

The current twists and turns within the relationship provide classes for the US and China, Xi mentioned. The US and China ought to have constructive interactions on the worldwide stage that display their duty as main powers to realize constructive outcomes for his or her international locations and the world, he mentioned.

“Each side ought to take the long-term perspective under consideration, specializing in the advantages of cooperation somewhat than falling right into a vicious cycle of mutual retaliation,” he mentioned, in keeping with the report.

Stressing that dialogue is best than confrontation, Xi listed a variety of points the place China and the US may work collectively, together with combating unlawful immigration and telecom fraud, anti-money laundering efforts, synthetic intelligence and dealing with infectious ailments.