Overview
- Trump and Xi met for about 1 hour and 40 minutes in Busan, with the session concluding without a joint statement as both moved on to APEC events.
- Trump said he reduced fentanyl-linked tariffs on Chinese goods from 20% to 10% effective immediately, which he said lowers the overall U.S. tariff level he has cited to 47%.
- U.S. officials said Beijing would delay its rare‑earth export controls for one year, a step that would avert a threatened additional 100% U.S. tariff.
- Trump and subsequent reports said China will resume large-scale purchases of U.S. soybeans, and Xi pledged stronger enforcement against fentanyl precursor flows.
- The outcomes draw on a Kuala Lumpur ‘framework’ reached by negotiators, and Trump said a formal agreement could follow soon, though full details and verification remain to be published.