“No More Roadblocks”: Trump, Xi Reach Major Trade Breakthrough on Tariffs and Rare Minerals Deal – Tariffs Cut From 57% to 47%

U.S. President Donald Trump announced on Thursday that tariffs on Chinese goods will be reduced from 57% to 47% following a high-level meeting with Chinese President Xi Jinping in South Korea. The announcement marks a significant step toward easing long-standing trade tensions between the two global powers.

Trump also revealed plans to visit China in April to advance discussions on trade cooperation and other key bilateral issues.

The U.S. President confirmed that disputes over rare earth materials between Washington and Beijing have been fully resolved, declaring there will be “no more roadblocks” in trade or supply. The new agreement, initially set for one year, is expected to be extended, signaling renewed stability in the critical minerals sector.

Following his talks with Xi, Trump described the meeting as “amazing,” saying that “a lot of decisions were made.” He announced that China would begin purchasing American soybeans immediately, adding that both sides agreed to act on several key issues. Trump also noted that Xi pledged to help curb the flow of fentanyl into the United States a major concern for Washington.

The two leaders concluded their 1 hour and 40 minute meeting in Busan, signaling progress toward finalizing a long-awaited trade deal. Before the talks began, Trump expressed optimism, saying that the U.S. and China “could sign a deal today” to end the years-long trade war. He confirmed that several agreements had already been reached and that more are likely to follow soon.

Chinese President Xi Jinping echoed Trump’s optimism, saying through a translator that negotiators from both countries had reached a “basic consensus” on a trade deal. Xi emphasized that China’s growth does not conflict with Trump’s “Make America Great Again” vision, according to the state-run Xinhua News Agency.

Trump praised Xi as a “tough negotiator” but also “a great leader of a great country.”

Thursday’s meeting in Busan marked the first face-to-face encounter between Trump and Xi since Trump began his second term, during which he reignited tariff measures that once saw China hit with steep import duties.

A temporary truce in May paused a cycle of retaliatory tariffs that had surpassed 100% on both sides, but new tensions have since emerged over semiconductor exports to China and U.S. access to rare earth materials.

The future of Chinese-owned TikTok’s U.S. operations was also discussed during the meeting as both nations work to stabilize their economic relationship and prevent further escalation.

With tariff cuts, renewed agricultural trade, and commitments on key security and technology issues, Thursday’s meeting may mark the beginning of a more cooperative phase in U.S.–China relations.

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Joseph Johnson

They say not everyone has the gift of gab to be able to talk about politics in the correct light - but Joseph is the perfect mix between a healthy critic, and a realist cynic. His unique personality works wonders at political discussions which are bound to cause a stir. He is an intellectual with many years of experience in the field, and his work is a reflection of his dedication to making political scenarios common knowledge among the citizens of the nation.

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