President Donald Trump characterized his latest discussions with Chinese President Xi Jinping as “an amazing meeting,” praising Xi as “a great leader” while briefing reporters aboard Air Force One.
According to Trump, the talks resulted in an accord covering several pressing issues between Washington and Beijing. He said more details on these agreements would be shared shortly.
Among the immediate outcomes was a move to cut tariffs on chemical inputs for fentanyl from 20% to 10%, effective immediately—a policy shift aimed at addressing concerns over the opioid crisis. Trump also noted that China would resume substantial purchases of US soybeans, calling it an appreciated gesture.
The two sides also reached a settlement regarding the longstanding dispute over rare earth minerals, materials critical for technology and defense industries. Beijing has historically maintained a monopoly over processing these minerals and has recently restricted their export. The U.S. President said that all of the rare earth issues have been settled, which will be a plus for the world. He added that the issue is not just a US situation, while reaffirming to reporters that there will be no roadblocks from China anymore.
On the semiconductor front, the US President confirmed that the two leaders discussed potential cooperation, with China planning talks with companies such as NVIDIA about chip acquisitions. Trump clarified, however, that Blackwell chips had not been discussed.
Additional measures announced by Trump include an overall reduction in US tariffs on Chinese goods from 57% to 47%. He further revealed plans for high-level state visits, with his own trip to China scheduled for April, while President Xi is expected to visit the United States later in the year.
