Dawn
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05:28 Oct 30, 2025
US President Donald Trump said he had struck a deal to reduce tariffs on China on Thursday in exchange for Beijing resuming US soybean purchases, keeping rare earths exports flowing and cracking down on the illicit trade of fentanyl. His remarks after the face-to-face talks with China’s leader Xi Jinping in the South Korean city of Busan, their first since 2019, marked the finale of Trump’s whirlwind Asia trip on which he also touted trade breakthroughs with South Korea, Japan and Southeast Asian nations. The meeting, which took place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, lasted nearly two hours. Trump shook hands and escorted Xi to his car before the US president was given a red carpet send off at the airport. Speaking to reporters on Air Force One, Trump said the meeting with Xi yielded an extendable one-year deal on the supply of crucial rare earths. “All the rare earths has been settled, and that’s for the world,” Trump told reporters aboard Air Force One, adding that th...