Trump said the United States would reduce tariffs on Chinese goods to 47 percent, while China would immediately resume large-scale purchases of American soybeans. He also confirmed plans to visit China in April next year.
The summit began around 10 a.m. Macau time on Wednesday (Oct. 30) at the VIP lounge of Busan’s Gimhae International Airport and lasted one hour and 40 minutes. Xi was accompanied by Politburo Standing Committee member Cai Qi, Vice Premier He Lifeng, and Foreign Minister Wang Yi. The US delegation included Treasury Secretary Scott Bessent, Secretary of State Marco Rubio, and Commerce Secretary Howard Lutnick.
Following the talks, Trump said the two leaders had reached “many decisions,” including resolving the rare earth supply issue. Beijing would maintain its rare earth exports, he said, while Washington would proceed with tariff reductions. In return, China would step up soybean imports and strengthen efforts to curb fentanyl smuggling into the United States.
After the meeting, Trump departed for the US, while Xi headed to Gyeongju to attend the APEC summit and begin a state visit to South Korea. During the discussions, Xi remarked that China’s path to national rejuvenation and Trump’s goal of “making America great again” were not in conflict. He also praised Trump’s efforts to address regional issues, adding that China had consistently promoted peace talks in its own way. “China and the United States can together demonstrate the responsibility of major powers,” Xi said.
US President Donald Trump (L) and China’s President Xi Jinping shake hands as they leave after their talks at the Gimhae Air Base, located next to the Gimhae International Airport in Busan on October 30, 2025. US President Donald Trump and China’s leader Xi Jinping opened on October 30 their first face-to-face meeting in six years, seeking a truce to end a trade war that has roiled the world economy. (Photo by ANDREW CABALLERO-REYNOLDS / AFP)
