Trump and Xi Meet in South Korea: First Face-to-Face Summit in Six Years Amid Ongoing Trade Tensions

US President Donald Trump and Chinese President Xi Jinping convened today in a critical summit in Busan, South Korea, marking their first face-to-face meeting in six years and their first encounter since Trump began his second presidential term.

During the high-stakes meeting, Trump expressed confidence, stating he anticipated a "very successful meeting" with Xi, whom he described as a "tough negotiator."

President Xi responded by emphasizing that while the two nations don't always share the same perspective, they should endeavor to be "partners and friends." He added, "China and the US can jointly shoulder our responsibility as major countries and work together to accomplish more great and concrete things for the good of our two countries and the whole world."

Prior to the summit, officials from both countries announced they had reached a "consensus to address their respective concerns" and established a "framework" agreement. Trump expressed optimism about the talks, suggesting they could lead to a "great outcome for the world."

The discussions encompassed numerous critical issues, including trade tensions, technology transfers, and access to critical minerals. Rare earth minerals featured prominently on the agenda, as these materials are essential for manufacturing advanced technology products from smartphones to military equipment. China, which controls much of the global supply, had recently expanded export restrictions on these materials in response to Washington placing several Chinese companies on a trade blacklist.

For the American side, securing greater access to China's rare earth supplies remains a top priority. Additionally, Trump is pushing for the final transfer of TikTok ownership to a US entity and seeking renewed Chinese purchases of American soybeans to support US farmers, who constitute a key part of Trump's political base.

Meanwhile, Beijing aims to secure eased restrictions on access to advanced computer chips, removal of fentanyl-related tariffs, and adjustments to port fees.

This meeting follows their previous significant encounter at the 2019 G20 Summit in Osaka, where Xi emphasized the mutual benefits of cooperation over the past four decades of diplomatic relations. During those talks, Xi stressed that dialogue and collaboration were preferable to friction, while maintaining that China would firmly safeguard its core interests regarding sovereignty and national dignity.

At that 2019 meeting, Trump had expressed the importance of his relationship with Xi and affirmed the United States' commitment to strengthening cooperation with China. Regarding economic tensions, Xi had emphasized mutual benefit as the foundation of China-US trade relations, while Trump promised not to impose additional tariffs on Chinese exports.