Image Credit: Andrew Harnik / Staff / Getty 
On Thursday President Donald Trump met with Chinese leader Xi Jinping in South Korea where the two discussed trade and commerce. Trump told reporters that they both have come to an agreement on “almost everything” and that he was able to make a number of key deals.
I had a truly great meeting with President Xi of China. There is enormous respect between our two Countries, and that will only be enhanced with what just took place. We agreed on many things, with others, even of high importance, being very close to resolved. I was extremely honored by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products. Our Farmers will be very happy! In fact, as I said once before during my first Administration, Farmers should immediately go out and buy more land and larger tractors. I would like to thank President Xi for this! Additionally, China has agreed to continue the flow of Rare Earth, Critical Minerals, Magnets, etc., openly and freely. Very significantly, China has strongly stated that they will work diligently with us to stop the flow of Fentanyl into our Country. They will help us end the Fentanyl Crisis. China also agreed that they will begin the process of purchasing American Energy. In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to see if such an Energy Deal can be worked out. The agreements reached today will deliver Prosperity and Security to millions of Americans. After this Historic trip to Asia, I am now heading back to Washington, D.C. I want to thank the Great Countries of Malaysia, Japan, and South Korea for being so generous, gracious, and hospitable — Also, Australia, Canada, New Zealand, Singapore, Thailand, and Vietnam, who were at the Dinner last night hosted by His Excellency Lee Jae Myung. Hundreds of Billions of Dollars are being brought into our Country because of them. Our Nation is Strong, Respected, and Admired Again and, THE BEST IS YET TO COME!
“We focused on export controls of China on rare earth, and they’re going to keep those flowing, which is quite important,” Trump said.
Embed from Getty ImagesBUSAN, SOUTH KOREA – OCTOBER 30: U.S. President Donald Trump (R) speaks with Chinese President Xi Jinping during a bilateral meeting at Gimhae Air Base on October 30, 2025 in Busan, South Korea. Trump is meeting Xi for the first time since taking office for his second term, following months of growing tension between both countries. (Photo by Andrew Harnik/Getty Images)
“All the rare earths has been settled, and that’s for the world,” Trump went on to say.
🚨 JUST IN: Chinese President Xi Jinping says he's GLAD to finally be meeting with President Trump
— Eric Daugherty (@EricLDaugh) October 30, 2025
"It's very warm seeing you again! It's been many years. Since your reelection, we've spoken on the phone 3 times, exchanged several letters, and stayed in close contact."
"Given… pic.twitter.com/YwGIStVTCT
The President got a one-year deal with Beijing for the rare earth minerals, which will be renegotiated annually. Notably, Trump also just acquired a rare earth deal with Australia as well.
The issue of China cutting off rare earth exports came following a tariff increase by Washington over China’s fentanyl assault on the U.S.
Trump said tariffs on China will be slashed to 47 percent from 57 percent, China would buy “tremendous amounts” of U.S. soybeans and will crack down on fentanyl trafficking.
“It was 57 (percent) now it’s 47 (percent) because we reduced it by, the Fentanyl, I believe they are really taking very strong action, we’ve already seen the action on fentanyl,” Trump said.
The two-hour meeting was the first for the two since 2019. Trump plans to have future visits with Xi after the success of Thursday’s meeting.
“I’ll be going to China in April, and he’ll be coming here sometime after that, whether it’s in Florida, Palm Beach or Washington, DC,” Trump told reporters on Air Force One.
Just prior to the meeting Trump announced the U.S. will resume nuclear weapons testing after China became defiant on denuclearization.
🚨 BREAKING: Reporter disrespectfully tries to SABOTAGE President Trump's bilateral meeting with Xi Jinping by SHOUTING at him in the presence of Xi – "Why did you change your nuclear plans?! Why are you doing more nuclear testing?!"
— Eric Daugherty (@EricLDaugh) October 30, 2025
Notice: NO OTHER reporters are yelling… pic.twitter.com/86glMFnQki
Despite the atomic tensions, China will “work together” with the U.S. on helping to end the Ukraine war, Trump said, but the issue of Taiwan never came up in discussion.
This is interesting as Russia consulted with China in hopes of getting help to end the Ukraine war back in May.
🚨 BREAKING: Chinese President Xi Jinping TELLS THE WORLD President Trump is the PRESIDENT OF PEACE!
— The Patriot Oasis™ (@ThePatriotOasis) October 30, 2025
"Mr. President, you care a LOT about world peace—I appreciate your great contribution to the Gaza ceasefire."
The ENTIRE world RESPECTS President Trump’s PEACE EFFORTS! 🔥 pic.twitter.com/UehCF4g9qr
Beijing issued a statement in-line with Trump’s announcements regarding the meeting’s developments, the BBC said:
The Chinese leader said both sides had reached a consensus to resolve “major trade issues”. The Chinese and US teams will be working on delivering outcomes that will serve as a “reassuring pill” for both countries’ economies, said Xi.
He pointed out that both countries have “promising prospects” for cooperation in areas such as handling illegal immigrants, cyber fraud, money laundering and artificial intelligence, according to the readout on Xinhua News Agency.
“China and the United States can jointly demonstrate the responsibility befitting of major powers, working together to accomplish more significant, practical and beneficial undertakings for both nations and for the world,” he said.
The Xi meeting wraps up Trump’s Asian trade tour where the President acquired key deals from a number of East Asian nations
