US President Donald Trump described the trade talks with Chinese President Xi Jinping as "amazing" following their meeting in South Korea, where they reached a deal on rare earths and agreed to cut tariffs.
Trump stated that all issues related to rare earths have been resolved worldwide, suggesting that tensions over these critical materials may soon fade from global discussions. The US president also mentioned that China has agreed to buy more American soybeans.
In contrast, the Chinese leader Xi Jinping expressed optimism about their talks, saying they should "stay on the right course" and work together as partners and friends. He acknowledged that there are always issues between major countries but said that both China and the US can tackle problems together and achieve greater concrete outcomes for their nations and the global community.
The two leaders had not met in person in six years prior to Thursday's meeting, which took place at Gimhae airbase. However, they have communicated through phone calls and letters since Trump returned to the White House.
A key outcome of their talks is a deal on rare earths, with China agreeing to end restrictions on exports and increase purchases of American soybeans. This agreement will last for one year and be renegotiated annually, in hopes that it can be renewed.
Trump hinted during the talks that he would reduce US tariffs on Chinese goods if Beijing agreed to curb fentanyl production. In exchange, he said that China should work hard to prevent the production of this opioid drug, which has caused a surge in deaths among Americans.
The meeting marked an improvement from recent aggressive rhetoric over trade between Washington and Beijing, which threatened to set the two nations on an economic collision course with potentially disastrous consequences for global markets.
Trump stated that all issues related to rare earths have been resolved worldwide, suggesting that tensions over these critical materials may soon fade from global discussions. The US president also mentioned that China has agreed to buy more American soybeans.
In contrast, the Chinese leader Xi Jinping expressed optimism about their talks, saying they should "stay on the right course" and work together as partners and friends. He acknowledged that there are always issues between major countries but said that both China and the US can tackle problems together and achieve greater concrete outcomes for their nations and the global community.
The two leaders had not met in person in six years prior to Thursday's meeting, which took place at Gimhae airbase. However, they have communicated through phone calls and letters since Trump returned to the White House.
A key outcome of their talks is a deal on rare earths, with China agreeing to end restrictions on exports and increase purchases of American soybeans. This agreement will last for one year and be renegotiated annually, in hopes that it can be renewed.
Trump hinted during the talks that he would reduce US tariffs on Chinese goods if Beijing agreed to curb fentanyl production. In exchange, he said that China should work hard to prevent the production of this opioid drug, which has caused a surge in deaths among Americans.
The meeting marked an improvement from recent aggressive rhetoric over trade between Washington and Beijing, which threatened to set the two nations on an economic collision course with potentially disastrous consequences for global markets.