Trump called his first face-to-face with Xi in six years a “great success,” while the Chinese leader said the two reached an “important consensus” to resolve an economic war that has disrupted markets and supply chains.
“I think it was an incredible meeting,” Trump said after meeting Xi in the South Korean city of Busan. He praised the leader as “a tremendous leader of a very powerful country” and announced that he would visit China in April.
The Republican magnate also revealed that after the meeting the Asian giant will “buy large quantities, huge quantities of soybeans and other agricultural products immediately.”
The measure could mean a bucket of cold water for Latin American countries such as Brazil and Argentina, which have increased their exports to China amid their dispute with Washington.
In the case of rare earths, essential for industries such as defense and technology, Trump specified that a one-year extendable pact was signed to guarantee supply from China.
The Ministry of Commerce of the Asian country confirmed that it will suspend certain restrictions on exports for one year, including those of rare earths, a sector in which it has enormous dominance.
Trump said the Chinese leader also agreed to “work very hard to stop the flow” of the deadly opioid fentanyl, a trade in which Washington has accused Beijing and Mexico of being complicit.
I imposed a 20% tariff on China due to the entry of fentanyl (…). And, based on your statements today, I’m going to reduce it by 10%
Donald Trump, president of the United States, aboard the presidential plane Air Force One.
In a subsequent social media post, Trump noted that American farmers “will be very happy” with the results of the talks.
He added that Beijing will “start the process of purchasing American energy,” which could include oil and gas from Alaska. Officials from both powers will meet to negotiate the potential “energy deal,” he said.
“Partners and friends”
Neither leader spoke immediately after their meeting, which lasted about an hour and 40 minutes.
Trump headed straight to Air Force One, waving and raising his fist, as Xi climbed into his limousine.
The Chinese president said before the start of the meeting that both countries “should be partners and friends.”
Sitting face to face during their meeting, each leader was flanked by senior officials, including the Secretary of State, Marco Rubio, and his Chinese counterpart, Wang Yi.
In an unexpected move, Trump announced less than an hour before the meeting that he had instructed “the War Department to begin testing” nuclear weapons “on equal terms.”
The president added that, in terms of nuclear arsenals, China occupies a “distant third place” behind the United States and Russia, “but in five years it will be on par.”
