Trump signals major trade thaw with China after high-level talks in South Korea
In a move that could mark a turning point in U.S.-China economic relations, President Donald Trump announced Wednesday that the United States would ease tariffs on Chinese goods following what he described as “very productive” discussions with Chinese President Xi Jinping.
Speaking to reporters after the meeting, President Trump said the talks brought the two countries closer to a comprehensive trade agreement, calling the encounter a “breakthrough moment” after months of renewed tension between the world’s two largest economies.
“We can sign a trade deal with China pretty soon,” Trump said, emphasising the progress achieved on issues that have long strained bilateral ties.
The discussions, held on the sidelines of Trump’s regional tour, were aimed at resetting a relationship strained by tariffs, technology restrictions, and disputes over critical resources.
Trump highlighted a major development regarding rare earth minerals materials vital to electronics, electric vehicles, and defense systems, saying China had agreed to improve U.S. access to these strategic resources.
“Beijing will give us better access to rare earths,” he said, suggesting the move could reduce American dependence on Chinese suppliers and benefit key U.S. industries.
China, meanwhile, issued a more cautious statement, saying both sides had reached “a consensus to resolve major trade issues” and describing the meeting as “constructive and forward-looking.”
Analysts noted that Beijing’s measured wording reflects a careful balancing act, signaling progress without appearing to concede leverage.
Despite the encouraging signals, no resolution was announced on the contentious issue of the sale of TikTok’s U.S. operations, which remains a key sticking point in ongoing trade and technology negotiations.
