US and China Seal Deal After High-Stakes Meeting in South Korea, Trump Hails Success
President Donald Trump has described his meeting with Chinese President Xi Jinping as a "roaring success," after they agreed on several key issues including the reduction of tariffs and the export of rare earth elements.
During their 100-minute meeting in Busan, South Korea, Trump announced that the US would lower its tariffs on China from 20% to 10%, bringing the combined tariff rate down to 47%. This move is seen as a significant step forward in easing tensions between the two nations.
The agreement also includes the export of advanced computer chips to China, with tech giant Nvidia set to be involved. Additionally, Beijing has agreed to allow American soybean exports, which are expected to boost US farmers' earnings.
However, despite this progress, officials on both sides acknowledge that there are still significant issues to address. The meeting highlighted the ongoing rivalry between the two nations in manufacturing, emerging technologies such as artificial intelligence, and global affairs like Russia's war in Ukraine.
The meeting took place in a relatively low-key setting, which has been seen as a positive development for investors and businesses caught up in the US-China trade dispute.
While Trump is optimistic about the prospects of a deal, past negotiations have shown that progress can be short-lived. The proposed agreement "fits the pattern we've seen all year: short-term stabilization dressed up as strategic progress," said Craig Singleton, senior director of the China program at the Foundation for Defense of Democracies.
With both sides maintaining pressure points, it remains to be seen whether this deal will hold long-term. One thing is certain, however - the meeting marked a significant shift in US-China relations and may help to ease tensions between the world's two largest economies.
President Donald Trump has described his meeting with Chinese President Xi Jinping as a "roaring success," after they agreed on several key issues including the reduction of tariffs and the export of rare earth elements.
During their 100-minute meeting in Busan, South Korea, Trump announced that the US would lower its tariffs on China from 20% to 10%, bringing the combined tariff rate down to 47%. This move is seen as a significant step forward in easing tensions between the two nations.
The agreement also includes the export of advanced computer chips to China, with tech giant Nvidia set to be involved. Additionally, Beijing has agreed to allow American soybean exports, which are expected to boost US farmers' earnings.
However, despite this progress, officials on both sides acknowledge that there are still significant issues to address. The meeting highlighted the ongoing rivalry between the two nations in manufacturing, emerging technologies such as artificial intelligence, and global affairs like Russia's war in Ukraine.
The meeting took place in a relatively low-key setting, which has been seen as a positive development for investors and businesses caught up in the US-China trade dispute.
While Trump is optimistic about the prospects of a deal, past negotiations have shown that progress can be short-lived. The proposed agreement "fits the pattern we've seen all year: short-term stabilization dressed up as strategic progress," said Craig Singleton, senior director of the China program at the Foundation for Defense of Democracies.
With both sides maintaining pressure points, it remains to be seen whether this deal will hold long-term. One thing is certain, however - the meeting marked a significant shift in US-China relations and may help to ease tensions between the world's two largest economies.
... still got some major tech and manufacturing issues to work out between the two countries 
. Don't get me wrong, it's a step in the right direction and all that jazz, but let's keep our expectations low for this one 
. The thing is, China's not exactly known for following through on agreements... we'll see how long this deal lasts 
. On the bright side, soybean exports are gonna be a win-win for US farmers and Chinese consumers alike 
, now we just gotta wait n see if it sticks lol, i mean its been all over the place for years, but hey a 10% tariff drop is def a win for us farmers 
... I mean, who thought lowering tariffs on China from 20% to 10% was a good idea? 
It's still kinda high if you ask me. And what about the whole AI and manufacturing thing? How are they gonna make that stuff work out? 
... I mean, have you seen how things go south when negotiations fall through? 
Still, I guess a meeting's better than nothin', right? 
China-US deal is good news 
Trump looks happy 
was perfect setting 
for low-key talks 
Tariffs down to 10% 
soybeans and rare earths exported 
computer chips on the way 
Nvidia involved 
Farmers will earn more 
Still, progress is progress 
One thing for sure - relations have shifted 
US-China ties improved 
. They agreed on some stuff, but like they said, it's all pretty temporary. We've seen this before where deals seem to work out for a hot second, and then things go back to normal. The thing is, China's got all these manufacturing issues with the US that ain't exactly getting solved here 
. And don't even get me started on Russia's war in Ukraine... it's like, what's next? 
I just don't think we can trust these deals to last long-term 
️.
. And what about the environmental impact of all this trade? I'm not seeing much said about sustainability or green initiatives 
.
!
like, don't get me wrong it's not all sunshine and rainbows but at least there's some progress being made? 10% tariffs instead of 20% is a big win for american farmers btw 
so like they finally agreed on somethin after all that drama! 
and we r still dealin with it?! 
but i guess the 10% tariff rate on china is a decent move, might boost those soybean exports 
... like, can't believe Trump is actually smiling with Xi 
... but we should keep an eye on what happens next 
... it's gonna take more than just a meeting to make this deal stick 
... but let's not get ahead of ourselves here. There's still a lot of work to do