Live Updates from Trump-Xi Summit: High-Stakes US-China Trade Talks Unfold in South Korea
US President Donald Trump and Chinese President Xi Jinping recently concluded a crucial summit in South Korea. The meeting took place on October 30, 2025, at the Gimhae Air Base in Busan. This marked their first face-to-face discussion since 2019, amidst rising trade tensions.
Key Topics of Discussion
The two leaders engaged in a dialogue that lasted approximately one hour and forty minutes. Main topics included:
- Trade relations between the United States and China
- Rare earth minerals vital for technology
- Exports of soybeans
- Russian oil
- Possible discussions regarding Taiwan
Market Reactions
As the talks unfolded, China’s yuan appreciated to a nearly one-year high against the US dollar. Investors expressed optimism that an agreement might alleviate existing trade tensions. In the broader markets, stock exchanges in Wall Street and Tokyo reached new highs, reflecting a positive sentiment regarding the outcomes of the talks.
Potential Outcomes
Experts suggest both leaders are aiming for a temporary truce in the ongoing trade war. Victor Cha, an analyst at the Center for Strategic and International Studies, indicated that an interim agreement might include:
- China should hold off on strict controls over rare earth exports for at least a year.
- The US might reduce tariffs instead of imposing 100 percent duties.
While both sides may claim partial victories, analysts warn that this arrangement may only provide short-term relief until further negotiations occur, especially with Trump’s planned visit to China in early 2026.
Trump’s Departure from South Korea
After the summit, Trump prepared to depart South Korea for the United States, concluding his Asian tour. The significance of this meeting emphasizes the ongoing dialogue between the world’s two largest economies, highlighting the complexities of international trade negotiations.
