The first in-person meeting between Donald Trump and Xi Jinping in six years, held on October 30, 2025, in Busan, South Korea, ended without a formal agreement. Key topics included tariffs, rare earth minerals, fentanyl trafficking, and agricultural trade. Trump announced a reduction in U.S. tariffs in exchange for Chinese commitments on rare-earth exports, soybean purchases, and fentanyl control, signaling a potential partial reset in U.S.–China economic relations.
The meeting between the heads of state of the two superpowers, Donald Trump and Xi Jinping, concluded without any formal agreement. After a one-hour and forty-minute discussion, the Presidents of the United States and China departed for their respective destinations.
This marked the first in-person encounter between the two leaders in six years. The meeting took place on Thursday, October 30, at 11 a.m. local time in Busan, South Korea. Discussions reportedly focused on tariffs, rare earth minerals, drug trafficking, and the agricultural sector.
Speculation suggested that the meeting might result in some understanding regarding the ongoing trade war between the world’s two largest economies. Additionally, Washington was expected to seek Beijing’s cooperation in efforts to end the Russia–Ukraine conflict. Prior to this meeting, the two leaders last met in 2019.
The meeting took place in Busan, South Korea, on October 30, 2025, and marked the first in-person encounter between them since 2019.China’s Foreign Ministry stated the talks would involve “in-depth communication on strategic and long-term issues” regarding China-U.S. relations.Major agenda items included trade issues (tariffs, rare-earth export controls), the illicit fentanyl trade, and U.S. demands around Chinese agricultural purchases.Ahead of the meeting, the U.S. threatened very steep tariffs (up to ~157%) on Chinese goods and raised the fentanyl issue explicitly.Immediately after the meeting, Trump described the talks as “amazing,” and announced a reduction in U.S. tariffs on Chinese imports (from ~57% to 47%) in exchange for Chinese commitments on rare-earth export flows, soybean purchases and fentanyl crack-down.While no formal joint communique was initially reported, the outcomes signal a potential thaw or partial reset in U.S.–China economic relations.