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President Donald Trump and Chinese President Xi Jinping met face-to-face Thursday in Busan, South Korea, in a high-stakes effort to defuse escalating trade tensions between the world’s two largest economies. Trump told reporters aboard Air Force One he expects to lower tariffs on China related to fentanyl cooperation, saying “the relationship with China is very good.” The meeting comes after months of economic turmoil triggered by Trump’s aggressive tariffs and China’s retaliatory limits on rare earth element exports.
The bilateral meeting, held at Gimhae Air Base adjacent to Busan’s international airport, marks the leaders’ first in-person talks since Trump returned to office for his second term. Xi, speaking through a translator, acknowledged the nations “do not always see eye to eye” but said they are “fully able to help each other succeed and prosper together.” A breakthrough on soybeans — which China hasn’t purchased from the U.S. since May — would provide political relief for Trump, who faces pressure from American farmers devastated by the trade war. The meeting occurred on the final day of Trump’s Asia trip during the Asia-Pacific Economic Cooperation summit.
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