Overview
- In their first face-to-face since 2019, Xi said negotiators reached a “basic consensus” while Trump said they may sign an agreement.
- The agenda focuses on a trade truce and on tariffs, rare earth supplies and technology access, including advanced U.S. AI chips.
- A separate U.S.–South Korea package was reported that cuts reciprocal tariffs to 15% and outlines $350 billion in Korean investment in the United States.
- Market attention turned to Nvidia after Trump said he would discuss the company’s Blackwell processors with Xi, with the stock rising in New York trading.
- Xi praised Trump’s role in the recent Gaza ceasefire and both sides struck conciliatory tones, as Seoul conferred top honors and gifts on the U.S. leader.