President Xi Jinping meets with U.S. President Donald J. Trump in Busan

On October 30, 2025 local time, President Xi Jinping had a meeting with U.S. President Donald J. Trump in Busan.
Photo: Ministry of Foreign Affairs People’s Republic of China

Donald Trump and Xi Jinping wrapped up their highly-anticipated summit after around an hour and a half on Thursday, concluding talks they hoped would quell an expansive trade fight that has shaken global markets, Bloomberg reports.

Xi and Trump could be seen shaking hands at the end of the talks before walking together out from the meeting at an air base in Busan, South Korea, on the sidelines of the Asia-Pacific Economic Cooperation summit. Following the talks, Trump took off aboard Air Force One to return to Washington while Xi continued on to APEC.

Trump predicted “a very successful meeting” as talks kicked off.

“I think we’ve already agreed to a lot of things, and will agree to some more right now,” Trump said, adding that he believed completing a deal was possible. “I think we’re going to have a fantastic relationship for a long period of time.”

Xi told Trump he felt “very warm seeing you again” and said he was “ready to continue working with you to build a solid foundation for China-US relations.”

“We do not always see eye-to-eye with each other, and it is normal for the two leading economies of the world to have frictions now and then,” Xi said. “And in the face of wind, waves and challenges, you and I, at the helm of Chinese relations, should stay the right course and ensure the steady sailing forward of the giant ship of China-US relations.”

Both leaders praised each other as the meeting opened, with Trump labeling Xi a “very tough negotiator” and “a great leader of a great country.”

“I always believe that China’s development goes hand in hand with your vision to Make America Great Again,” Xi said.

Photo: Ministry of Foreign Affairs People’s Republic of China

President Xi noted that under our joint guidance, China-U.S. relations have remained stable on the whole. China and the United States should be partners and friends. This is what history has taught us and what reality needs. Given our different national conditions, we do not always see eye to eye with each other and it is normal for the two leading economies of the world to have frictions now and then. You and I are at the helm of China-U.S. relations. In the face of winds, waves and challenges, we should stay the right course, navigate through the complex landscape, and ensure the steady sailing forward of the giant ship of China-U.S. relations. I am ready to continue working with you to build a solid foundation for China-U.S. relations and create a sound atmosphere for the development of both countries, The Ministry of Foreign Affairs People’s Republic of China informs.

President Xi noted that the two teams had an in-depth exchange of views on important economic and trade issues, and reached consensus on solving various issues. They should work out and finalize the follow-up steps as soon as possible, and ensure that the common understandings are effectively upheld and implemented, to inject confidence into the two countries as well as the global economy through solid deliverables. China-U.S. economic and trade relations have experienced ups and downs recently, and this has also given the two sides some insights. The business relationship should continue to serve as the anchor and driving force for China-U.S. relations, not a stumbling block or a point of friction. The two sides should think big and recognize the long-term benefit of cooperation, and must not fall into a vicious cycle of mutual retaliation. The two teams can continue their talks in the spirit of equality, mutual respect and mutual benefit, and continuously shorten the list of problems and lengthen the list of cooperation.

President Trump said that it is a great honor to meet President Xi. China is a great country. President Xi is a well respected great leader, and has been my good friend for many years. We have always got along well. The United States and China have always had a fantastic relationship, and it will be even better. We will make both China and the U.S. even better. China is the biggest partner of the U.S. Together, our two countries can get many great things done for the world and have many years of success. China will host APEC 2026, and the U.S. will host the G20 summit next year. We expect both to be successful.

The two presidents agreed to maintain interactions on a regular basis. President Trump looked forward to visiting China early next year, and invited President Xi to visit the United States.

Photo: Ministry of Foreign Affairs People’s Republic of China

As Donald Trump flew out of Busan airport in South Korea after his meeting with China’s Xi Jinping, the US president sounded upbeat about progress made during less than two hours of talks.

Trump discussed the outcome of the meeting, which he described as a 12 on a scale of one to 10, with “an outstanding group of decisions made”. He added: “We’ve come to a conclusion on many important points,” ‘The Guardian’ quotes.

A Chinese statement quoted Xi saying the two countries had “good prospects for cooperation”, and relations had maintained “overall stability” under his and Trump’s guidance.

Five key takeaways from Donald Trump’s meeting with Xi Jinping.

1. Rare earths is ‘settled’

Perhaps the most globally crucial topic was China’s recently announced ban on rare-earth exports if there was any chance of the products having dual use for foreign militaries or some semiconductor sectors. China controls nearly all the mining and processing of rare earths, and the ban sent nations scrambling.

But Trump said he discussed it with Xi and “they’re gonna keep those flowing”, under a one-year agreement on supply which Trump expected to be extended annually. “All of the rare earth has been settled,” he said. “That roadblock is gone now, there’s no roadblock at all on rare earths.”

The Chinese statement did not mention rare earths specifically, but the commerce ministry later said the country would suspend the export controls announced on 9 October (the day the rare earths ban was revealed) in return for the US pausing 50% penetration rules on export controls.

2. Tariffs eased slightly by ‘real action’ on fentanyl

On fentanyl, Trump said Xi was going to “work very hard to stop the flow” of precursor chemicals that the US said were being used to make the highly addictive and dangerous drug that was sweeping through the US. “I think you’ll see some real action taken,” he said.

The US had put a 20% tariff on Chinese products specifically to put pressure on Beijing over fentanyl. Today Trump says he has immediately reduced it to 10%, based on Xi’s statements on Thursday.

China’s commerce ministry confirmed the suspension of the fentanyl tariffs, among others, and said it would adjust its own countermeasures accordingly.

3. Trump is going to Beijing and Xi might in turn visit Florida

The US president told reporters he would go to China in April, in a long-expected trip. He was less specific about a reciprocal visit by Xi to the US, saying only that his Chinese counterpart “will be coming here some time after that. Whether it’s in Florida, Palm Beach or Washington DC”.

China said Trump “looks forward to visiting” early next year, but only acknowledged that he had invited Xi to visit the US.

4. Chip sales but not the Blackwell

On chips, Trump said he and Xi discussed China buying US chips from Nvidia, but said that was up to them and the US was more of an “arbitrator or referee”. When asked if he was going to allow Nvidia’s new Blackwell AI chip to be sold to China, Trump said no. “We’re not talking about the Blackwell… But a lot of chips, you know, a lot of the chips. And that’s good for us.”

The Blackwell B30A chip is a new product by Nvidia, to replace the H20, a deliberately throttled-back chip designed for the Chinese market so it would not trigger US restrictions. The Blackwell B30A is also deliberately limited but is more powerful than the H20, and critics from both sides of US politics have expressed concern at the prospect of allowing China to buy it.

5. A lot of Ukraine but not much Taiwan

Trump said the war in Ukraine “came up very strongly” as an issue and that he and Xi had agreed to work together to make progress. “We talked about it for a long time, and we’re both going to work together to see if we can get something,” he said.

However, he also said: “The two sides are locked in fighting, and sometimes you’ve got to let them fight I guess. Crazy.”

He acknowledged China was a big buyer of Russian oil but added that the topic was not discussed. The Chinese summary of the talks noted that Trump was “very enthusiastic about settling various regional hotspot issues”, and that China had also been promoting peace talks on various conflicts.

“The world today is confronted with many tough problems,” Xi said. “China and the US can jointly shoulder our responsibility as major countries, and work together to accomplish more great and concrete things for the good of our two countries and the whole world.”

Meanwhile, Taiwan “never came up” in the meeting, Trump told reporters onboard Air Force One. “That was not discussed actually.”

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