Tensions between the two nations have flared again in recent weeks amid Washington’s expansion of export controls and China’s tightening of rare earth export curbs
US President Donald Trump and his Chinese counterpart, Xi Jinping, met on Thursday at a
high-stakes meeting in South Korea, where the two leaders acknowledged differences but hoped to strengthen their relationship in the future. Following an “amazing” meeting with Xi, Trump announced that he will lower tariffs on China.
“We have a great relationship. Xi is a tough negotiator,” Trump said, adding that the two countries will have “fantastic” ties from now.
In response, Xi said, “China and the US can jointly shoulder our responsibility as major countries and work together to accomplish more great and concrete things for the good of our two countries and the whole world.”
Trump cuts tariffs on China
After his meeting with Xi, Trump announced that Washington will slash tariffs on China from 57 per cent to 47 per cent.
“The meeting with President Xi was amazing. A lot of decisions were made,” Trump said after meeting the Chinese president.
Noting that it was a pleasure to see Trump, Xi added, “We have not always seen eye-to-eye and it’s normal.” The Chinese leader said that it was common for major economic powers to have frictions and that the US and China should now work on clearing those differences and work as “partners and friends”.
Tensions between the two nations have flared again in recent weeks amid Washington’s expansion of export controls and China’s tightening of rare earth export curbs. The tit-for-tat escalation eventually prompted Trump to threaten a 100 per cent tariff on Chinese goods starting on November 1.
However, officials from both sides maintain that the United States and China made apparent progress over the weekend after the latest round of trade talks in Malaysia. Both nations’ agreement on a trade deal framework has set the stage for a sit-down between Trump and Xi on the sidelines of the Asia-Pacific Economic Cooperation CEO summit in South Korea.
Xi lauds Trump’s efforts in Gaza
The Chinese president highlighted Trump’s recent ceasefire attempt in Gaza between Israel and Hamas, saying that he was “very enthusiastic” about engaging in regional hot-button issues.
“During your visit to Malaysia, you witnessed the signing of the Joint Declaration on peace along the Cambodia-Thailand border, to which you had provided input,” Xi said, adding that Beijing has also been dealing with the border dispute “in its own way.”
‘Deal with China to be signed today’
Both leaders are in closed-door meetings at the moment, but before heading in, President Trump remarked that a deal with China “could be” in the works.
When a reporter asked whether he anticipated signing an agreement today, Trump replied, “Could be. We all have a great understanding.”
Meeting concludes
The meeting between the two leaders has concluded. The two leaders shook hands before exiting the air base together at Gimhae International Airport on Thursday around 12:50 p.m. local time.
As Trump and Xi exited the venue, they shook hands once more before Xi got into his car and departed with his motorcade. He will stay in South Korea for a state visit and to take part in the main APEC leaders’ summit.
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