Trump and Xi Hold 'Amazing' Talks with No Formal Trade Agreement

Thu Oct 30 2025 19:21:27 GMT+0200 (Eastern European Standard Time)

In a significant meeting between US President Donald Trump and Chinese President Xi Jinping, both leaders expressed optimism over improving trade relations despite failing to reach a formal agreement. The discussions, marking their first direct engagement in six years, hinted at a possible de-escalation of ongoing tensions between the two largest economies.

During a highly publicized meeting, President Trump described his discussions with President Xi as 'amazing', focusing on improving trade relations. Despite no formal agreement being reached, both leaders showed signs of progress in resolving major trade issues, including the suspension of China's export control measures on rare earths and immediate purchases of US agricultural products. However, significant tariffs remain, reflecting ongoing complexities in US-China relations.

US President Donald Trump has hailed an amazing meeting with his Chinese counterpart, Xi Jinping, amid rising hopes for a de-escalation of tensions between the world's two biggest economies.

Beijing was less effusive, stating that the two sides had reached a consensus to resolve major trade issues during the leaders' first face-to-face meeting in six years.

Trump's trade war had led to retaliatory tariffs exceeding 100% on both sides, but they agreed to a truce in May - although tensions remain high.

Thursday's discussions did not result in a formal agreement but suggest progress towards a deal, with ongoing negotiations behind the scenes.

International trade deals typically take years to negotiate, yet countries worldwide are attempting to resolve differences with the current Trump administration within months.

A key achievement for Trump is China's agreement to suspend measures controlling the export of rare earth materials, essential for producing various technologies including smartphones and military equipment.

A jubilant Trump informed reporters that China would start purchasing a tremendous amount of soybeans and other agricultural products. Chinese tariffs on American soybeans had previously halted imports, negatively impacting US farmers – a crucial voter demographic for Trump.

No breakthrough was noted regarding TikTok, despite US attempts to transfer the app's US operations from Chinese company ByteDance over national security concerns.

The US also announced a reduction in certain tariffs on China concerning fentanyl ingredient flows, with our sources indicating that additional tariffs on imported goods will persist, maintaining a tax rate of over 40% for US importers on Chinese products.

Under the new arrangements, China will also consult with Jensen Huang, head of US tech firm Nvidia, amidst an ongoing dispute regarding AI chip access due to national security issues.

In a further sign of warming relations, China has extended an invitation to Trump for a visit in April.

However, the meeting underscored the differing approaches of the two leaders. Xi maintained a composed demeanor and projected a strong position, while Trump exhibited visible tension during the discussions.

The atmosphere of the meeting contrasted sharply with previous receptions during Trump's visit to Southeast Asia, emphasizing the significance of the trade talks.

Experts suggest that while no immediate trade deal was secured, the groundwork has been laid for potential future agreements, marking it as a promising start for US-China relations.