Trump and Xi Meet in South Korea: A Positive Encounter

US President Donald Trump emerged from his meeting with Chinese leader Xi Jinping beaming, labeling the conversation “truly great.” But the one-year truce struck on Thursday in South Korea is likely to only stabilize relations between the world’s two largest economies rather than resolve fundamental differences, with both sides buying time to further reduce dependence on each other in strategic areas. And it made clear just how much stronger China has become since Trump’s first term in office. Trump’s move to cut the fentanyl tariff and extend the existing truce on reciprocal tariffs will leave many products facing a levy around 47%, low enough for China’s massive manufacturing base to remain competitive with regional rivals. Just as significantly, the US agreed to suspend a rule expanding restrictions on blacklisted Chinese firms, showing that Xi’s sweeping rare earth curbs could potentially put a cap on new US export controls — something China has sought for years. Read more: https://www.bloomberg.com/news/articles/2025-10-30/trump-xi-truce-buys-time-as-both-seek-leverage-in-broader-fight #politics #trump #worldnews #us #china #xijinping #putin #russia #india #southkorea ---------- Like this video? Subscribe https://www.youtube.com/@Bloomberg-News Bloomberg News is the first word in business news. Visit bloomberg.com for the latest on global business, markets and more. Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginals Bloomberg on YouTube: https://www.youtube.com/@business https://www.youtube.com/@markets https://www.youtube.com/@BloombergTechnology https://www.youtube.com/@BloombergPodcasts Connect with us on social: https://www.instagram.com/bloombergbusiness https://www.linkedin.com/company/bloomberg-news https://www.tiktok.com/@bloombergbusiness https://www.facebook.com/bloombergbusiness