Busan (web desk )
In a significant development, US President Donald Trump and Chinese President Xi Jinping concluded a one-year trade agreement during their meeting in Busan, South Korea. As part of the agreement, the United States will reduce tariffs on Chinese goods from 57% to 47%, and disputes over rare earth minerals have been resolved.
Speaking to journalists aboard Air Force One, President Trump described the meeting as “excellent” and “remarkable,” highlighting that several critical decisions were taken. He confirmed that the trade deal will be extended regularly and emphasized cooperation on preventing the entry of fentanyl-related chemicals from China into the US.
Trump also announced plans to visit China in April, while President Xi will make a reciprocal visit to the United States. The agreement includes increased Chinese purchases of soybeans from the US.
The leaders also agreed to work together on the Ukraine crisis, although Taiwan was not discussed during the meeting. The session lasted one hour and 40 minutes, exceeding its scheduled duration, with senior officials from both sides present, including US Secretary of State Marco Rubio, Commerce Secretary Howard Lytle, Treasury Secretary Scott Bassett, and China’s Foreign Minister Wang Yi.
President Xi stated that China and the US should remain partners and friends, noting that both major powers have a responsibility to address global challenges collectively. The leaders expressed optimism about strengthening bilateral relations and fostering economic cooperation.