Overview
- Trump and Xi held in‑person talks in Busan and both signaled a willingness to lower tensions after months of economic friction.
- Talks covered tariffs and rare‑earth exports, with reports that China will delay tighter rare‑earth curbs by a year and the U.S. will hold off a planned 100% additional tariff.
- Trump said he will reduce the remaining 20% punitive tariffs on Chinese goods if Beijing strengthens enforcement against fentanyl shipments.
- Trump approved South Korea’s plan to develop nuclear‑powered submarines to be built at a Philadelphia shipyard, a move that would require revisions to fuel‑supply and nuclear‑cooperation rules.
- He also directed the Pentagon to begin immediate nuclear testing, and a separate meeting with North Korea’s Kim Jong Un did not occur after Pyongyang declined to agree to a summit.