Xi, Trump pledge to ‘steady the ship’ of China-US relations in rare face-to-face meeting

BUSAN, South Korea (MNTV) – Chinese President Xi Jinping and US President Donald Trump held their first face-to-face meeting in six years on Thursday, pledging to stabilize relations and prevent an escalating rivalry between the world’s two largest economies.

Meeting in the South Korean port city of Busan ahead of the Asia-Pacific Economic Cooperation (APEC) summit, the two leaders sought to reset ties strained by years of tariffs, technology restrictions and diplomatic tensions.

Call for cooperation over confrontation

Xi urged Washington to “focus on long-term benefits brought by cooperation rather than falling into a vicious cycle of retaliation,” according to China’s state news agency Xinhua.

He said that both countries needed “positive interactions on regional and international stages” and to ensure that their economic ties remain a “ballast and driver” of bilateral relations rather than a source of conflict.

Xi added that trade and economic teams from both sides had held “in-depth talks” and reached “consensus on solutions to problems.”

The next step, he said, was to “constantly narrow down the list of problems and extend the list of cooperation.”

China, Xi stressed, does not “seek to challenge or replace any country” but is focused on “doing business and ensuring stability.”

He expressed confidence that Beijing could manage “all kinds of risks and challenges” while continuing to deepen reforms and expand its opening to the global economy.

Xi also praised Trump for his “enthusiasm for world peace,” citing his role in facilitating a recent Gaza ceasefire and helping mediate a peace accord between Cambodia and Thailand. “China’s development goes hand in hand with your vision to make America great again,” Xi told Trump.

“Our two countries are fully able to help each other succeed and prosper together.”

Trade and security deals

Speaking to reporters aboard Air Force One after leaving South Korea, Trump described the 100-minute meeting as “a 12 out of 10.”

He said Xi agreed not to impose rare earth export controls that had rattled markets, while the US would roll back some tariffs on Chinese imports.

China’s Commerce Ministry later confirmed that Beijing will suspend rare earth export control measures against the United States following the Xi-Trump summit.

Trump said he would cut tariffs on goods linked to the fentanyl trade from 20% to 10%, after Xi pledged a tougher domestic crackdown on the production and export of the deadly drug.

“You’re going to see a big difference,” Trump said.

“He’s going to be very strong in enforcing fentanyl regulations internally.”

The US president also confirmed that China had agreed to purchase additional American soybeans, providing relief to US farmers hit hard by the trade war.

He said both sides made “an outstanding group of decisions,” though issues such as Taiwan and advanced microchips were only briefly discussed.

“We discussed a lot of chips,” Trump said, “but not Nvidia’s latest architecture.”

He emphasized that while disagreements remain, “we’re moving toward a much better place.”

Renewed diplomatic exchanges

The Busan meeting was the first in-person encounter between the two leaders since the 2019 G20 summit in Osaka, Japan.

Xi and Trump agreed to continue high-level exchanges, with Trump expected to visit China in April 2025 and Xi planning a reciprocal trip to the United States later in the year.

As Trump departed South Korea for Washington, Xi stayed to attend the APEC Economic Leaders’ Meeting in Gyeongju, where he is expected to discuss regional trade and security cooperation.