President Donald Trump said he reached a limited understanding with China after meeting President Xi Jinping in South Korea, describing moves to pause parts of the trade clash and intensify cooperation against fentanyl. Reuters reported that China would defer planned rare-earth export controls for a year, and that the U.S. would reduce certain fentanyl-related tariffs to 10% from 20%.
Trump called the talks “outstanding” and said China would resume purchases of U.S. farm goods and keep rare earths and critical minerals flowing, amplifying the claims in a post on Truth Social.
It was the leaders’ first in-person session since 2019. Trump also said Beijing would “work very hard” to curb illicit fentanyl shipments to the U.S.
Formal bilateral documentation is still pending. No detailed White House or Chinese government readouts had been released as of Thursday, and specifics on agricultural volumes, fentanyl enforcement mechanisms, and the rare-earth deferral remain to be finalized.
The steps ease near-term escalation risks after weeks of tariff threats and market concern over mineral supply security. But unresolved issues around technology controls, investment screening, and longer-term tariff architecture remain. Further negotiations and compliance checks will determine whether broader tariff rollbacks follow, Reuters reported.
What’s next: U.S. and Chinese officials are expected to draft implementing measures on rare earths, the fentanyl pledge, and purchase commitments in the coming days.
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