Trump Calls Xi Meeting “Amazing,” Expects US–China Trade Deal Soon
U.S. President Donald Trump said on Thursday that a trade deal with China could be signed “pretty soon” after what he described as an “amazing meeting” with Chinese President Xi Jinping, signaling potential progress in easing the long-running economic tensions between the world’s two largest economies.
Speaking to reporters aboard Air Force One following the talks, Trump said both sides had reached broad agreements on major issues and would finalize the remaining details in the coming days.
Tariffs, Rare Earths, and Semiconductor Talks
Trump announced that U.S. tariffs on Chinese goods would be reduced to 47% from 57%, noting Beijing’s commitment to crack down on fentanyl exports to the United States.
He also said that “all the rare earth issues have been settled,” with China agreeing to maintain exports under a one-year renewable deal. The move is expected to help stabilize supply chains critical to the tech and defense industries.
The two leaders also discussed semiconductors, with Chinese officials set to meet companies such as Nvidia (NASDAQ: NVDA) and other chipmakers about increasing purchases. Trump clarified, however, that the talks did not include Nvidia’s latest Blackwell AI chips.
Agricultural and Geopolitical Cooperation
Trump confirmed that China will immediately resume purchases of U.S. soybeans and other farm goods, a move that could provide relief to U.S. agricultural exporters.
Both sides also agreed to expand cooperation on geopolitical issues, including efforts to help end the war in Ukraine.
Calling the meeting “a twelve on a scale of ten,” Trump praised the tone and outcome of the talks but acknowledged that specific details on rare earths and agricultural purchases were still being finalized.
Future Visits Planned
Trump said he plans to visit China in April, while President Xi Jinping is expected to make a return visit to the United States next year, continuing efforts to normalize diplomatic and trade relations.
During the meeting, U.S. stock futures fluctuated but eventually stabilized, reflecting a cautious optimism from investors.
