By John Meyer, consultant in business and trade – Eurasia Business News, October 26, 2025. Article no 1855
Donald Trump and Xi Jinping in Beijing, on Nov. 9, 2017. The two will meet in South Korea on October 30.
The United States and China are confident ahead of their upcoming trade talks meeting scheduled for Thursday, October 30, in South Korea, where President Donald Trump and Chinese President Xi Jinping will confer.
The two countries have established a substantial framework and a preliminary consensus on trade issues that includes avoiding the implementation of a threatened 100% tariff on Chinese imports, postponing China’s stricter controls on rare earth mineral exports for about a year, and China resuming large purchases of U.S. soybeans.
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They also reached early agreement on issues like TikTok’s operations in the U.S. and the reduction of trade tensions to prevent escalation. Officials describe the discussions as constructive and very successful, aiming to extend the current trade truce and address contentious topics such as rare earths, tariffs, fentanyl precursor imports, and agricultural purchases.
The talks are seen as crucial in easing trade frictions between the two largest economies and providing reassurance to global markets.
On October 10 the U.S. President Donald Trump threatened a “massive increase” in tariffs on Chinese imports, citing China’s trade hostility and new export restrictions on rare earth minerals. This threat came after China imposed tighter controls on rare earth elements vital for manufacturing semiconductors and various advanced technologies. Trump’s announcement, including the possible cancellation of a planned meeting with Chinese President Xi Jinping, triggered a sharp selloff in the U.S. stock markets.
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© Copyright 2025 – Eurasia Business News. Article no. 1855
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