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By The Associated Press undefined
President Donald Trump said he’s made deals with China after meeting Chinese leader Xi Jinping on Thursday, the final day of a trip to Asia that was an opportunity for the leaders of the world’s two largest economies to stabilize relations after months of turmoil over trade issues.
The president told reporters aboard Air Force One that the U.S. would lower tariffs implemented earlier this year as punishment on China for its selling of chemicals used to make fentanyl from 20% to 10%. That brings the total combined tariff rate on China down from 57% to 47%.
Trump’s aggressive use of tariffs since returning to the White House for a second term combined with China’s retaliatory limits on exports of rare earth elements had given the meeting newfound urgency.
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Xi agreed to buy 25 million metric tons of soybeans annually for next 3 years, Bessent says
Treasury Secretary Scott Bessent added that as part of the deal President Trump struck with Xi, China will start by purchasing 12 million metric tons of soybeans from the U.S. between now and January.
“So you know, our great soybean farmers, who the Chinese used as political pawns, that’s off the table, and they should prosper in the years to come,” Bessent said in an interview on Fox Business Network’s “Mornings with Maria.”
New Trump administration rule bars student loan relief for public workers tied to ‘illegal’ activity
The Trump administration is forging ahead with plans to eject some nonprofits from a popular student loan forgiveness program if their work is deemed to have a “substantial illegal purpose” — a move that could cut off some teachers, doctors and other public workers from federal loan cancellation.
New rules finalized Thursday give the Education Department expanded power to ban organizations from the Public Service Loan Forgiveness program. The Trump administration calls it necessary to block taxpayer money from lawbreakers. Critics say it turns the program into a tool of political retribution.
Set to take effect in July, the policy is aimed primarily at organizations that work with immigrants and transgender youth.
It grants the education secretary power to exclude groups from the program if they engage in activities including the trafficking or “chemical castration” of children, illegal immigration and supporting terrorist organizations. “Chemical castration” is defined as using hormone therapy or drugs that delay puberty — gender-affirming care common for transgender children or teens.
▶ Read more about the Trump administration and student loans
Surgeon general nominee goes into labor, delaying confirmation hearing
A Senate hearing for Trump’s surgeon general pick, Casey Means, has been postponed because she went into labor.
The news from a spokesperson for the Senate health committee comes just hours before Means was scheduled to appear virtually before the committee for her confirmation hearing. It wasn’t immediately clear when the hearing would be rescheduled.
Means, a Stanford-educated physician-turned-wellness influencer, has been expecting her first child.
Trade takeaways from Trump’s meeting with Chinese leader Xi Jinping
1. Rolling back tariffs: Trump told reporters while heading home on Air Force One that he had agreed to cut his 20% tariff increase, imposed over China’s role in producing fentanyl and chemicals used to make it, to 10%. China confirmed that it will take average tariffs on Chinese goods to 47%, down from 57%. The two sides agreed to continue to work on cracking down on illicit flows of the drug into the U.S.
2. Sales of computer chips to China: Trump said he discussed U.S. sales of computer chips to China. Trump and former President Joe Biden had imposed restrictions on access to the most advanced chips such as those used for artificial intelligence. China will speak with Silicon Valley chipmaker Nvidia about purchasing its computer chips, he said. That won’t include its next-generation Blackwell AI chip, he said, “but a lot of the chips.”
3. U.S. soybeans and other farm exports: Trump said the Chinese side has committed to buying “a tremendous amount” of American soybeans, sorghum and other farm products. The Chinese side did not provide any details.
4. No TikTok deal yet: Beijing said it will work with the Trump administration to resolve issues related to TikTok’s ownership.
China and the U.S. to pause tit-for-tat port fee measures for a year
China’s Commerce Ministry said on Thursday that the U.S. will pause its measures under its Section 301 investigation against China’s shipbuilding and maritime industries for one year.
It said China will pause its relevant countermeasures against the U.S. for a year in response after the U.S. suspensions take effect.
The U.S. imposed new port fees on Chinese-owned or -operated ships calling at American ports from Oct. 14 resulting from its Section 301 investigation, which it said found China’s practices in maritime and shipbuilding were “unreasonable” and a burden to American commerce.
Beijing, in response, slapped retaliatory port fees largely mirroring the U.S. fees on American vessels calling at Chinese ports that came into effect the same day.
Separately, China’s Commerce Ministry also said it will “properly” resolve TikTok related issues with the U.S.
Atomic bombings survivors in Japan denounce Trump’s nuclear test comments
Japanese survivors of U.S. atomic bombings in Hiroshima and Nagasaki at the end World War II condemned Trump’s comments Thursday suggesting the U.S. will restart testing of its nuclear weapons.
“The act vehemently opposes all countries that are endeavoring to achieve a nuclear-free and peaceful world and absolutely could not be tolerated,” said Jiro Hamasumi, secretary general of Nihon Hidankyo, a grassroots organization of the survivors that won the 2024 Nobel Peace Prize.
The group demanded in a statement that the U.S. respond to calls for nuclear disarmament and take a leadership role in the movement.
China calls on US to refrain from nuclear weapon tests
Foreign ministry spokesperson Guo Jiakun said in Beijing that China hopes the U.S. will fulfill its obligations under the Comprehensive Nuclear Test-Ban Treaty and honor its commitments to suspend nuclear tests.
His comment came in response to a social media post by Trump that suggested the U.S. might resume the tests.
Trump made the post minutes before the highly anticipated meeting with Chinese leader Xi Jinping in South Korea.
China says it will suspend rare earth controls for one year
China has agreed to suspend its new export control restrictions on rare earth minerals for one year and study and refine them, the Commerce Ministry said.
In return, the U.S. will suspend for one year a rule that expanded its controls to all subsidiaries that are at least 50% owned by Chinese companies on an export control list.
The two moves in the U.S.-China trade war had alarmed companies globally.
The ministry statement didn’t mention rare earths by name, but said that China would suspend measures announced on Oct. 9, when the rare earth restrictions came out.
Chinese Commerce Ministry confirms tariff reduction
China confirmed Trump’s comment that the U.S. would slash the fentanyl-related tariff rate by 10 percentage points in a statement from the Commerce Ministry.
It also said that both sides would extend a temporary tariff rate pause on each other for a year.
The pause was initially announced in May after both sides threatened each other with sky high rates.
Xi calls for cooperation on AI and immigration
Xi, stressing that dialogue is better than confrontation, listed a range of issues where China and the U.S. could work together, including combating illegal immigration and telecom fraud, anti-money laundering efforts, artificial intelligence and infectious disease response.
He called for more dialogue and exchange on these potential areas of cooperation.
He also said the U.S. and China should have positive interactions on the global stage that demonstrate their responsibility as major powers to achieve positive results for their countries and the world.
He noted that China will host the APEC leaders meeting and the U.S., the Group of 20 summit, next year.
Xi calls on both sides to finalize consensus on trade
The first official Chinese comment on the meeting suggested any deal is not done.
Xi noted that negotiating teams from both countries had reached a consensus, a likely reference to talks held in Malaysia last weekend, according to a report on the meeting distributed by state media.
The Chinese leader said the teams should complete follow-up work as soon as possible to deliver tangible results that will provide “peace of mind” to China, the U.S. and the rest of the world.
The recent twists and turns in the relationship offer lessons for the U.S. and China, Xi said.
“Both sides should take the long-term perspective into account, focusing on the benefits of cooperation rather than falling into a vicious cycle of mutual retaliation,” he said, according to the report.
China’s views on Trump’s tariffs
There was no immediate comment from China on the results of the meeting, but the fentanyl-related tariffs have been a particular sticking point.
China saw them as an act of bad faith because it had been working with the Biden administration on tightening its controls over the flow of the ingredients for the drug to Mexico.
Trump demanded that China do more.
A look at past Trump-Xi meetings
Thursday’s meeting between the U.S. and Chinese leaders in Busan, South Korea, ran about an hour and 40 minutes, fairly similar in length to some of their meetings during Trump’s first term.
Their last meeting six years ago at the Group of 20 summit in Osaka, Japan, was under an hour and a half, as Trump went from his meeting with Xi straight to a separate sit-down with Turkish President Recep Tayyip Erdogan.
At a separate G20 summit — this time in 2018 in Buenos Aires, Argentina — Trump and Xi met for a dinner that ran more than two hours.
Their two meetups in 2017 were more elaborate. First, Trump invited Xi to Mar-a-Lago, his south Florida club and residence, for two days of discussions in April of that year.
Xi then returned the favor later that November when he welcomed Trump for a lavish state visit that included an arrival ceremony, a private tour of the Forbidden City as well as a dinner there, a military parade and a state banquet.
Asian markets are lower despite Trump comments on trade with China
Trump’s meeting with Xi appeared to draw an initially skeptical reaction from investors despite Trump’s upbeat comments to reporters afterward.
Chinese share prices fell back when markets reopened after their midday break Thursday.
Share prices retreated across the region, with Japan’s benchmark Nikkei 225 down 0.3% and Hong Kong’s Hang Seng sinking 0.7%.
The Shanghai Composite index lost 0.7%.
U.S. futures and oil prices also declined.
Trump says nuclear testing ‘will be announced’ but doesn’t offer any more details
The president, while speaking to reporters aboard Air Force One, seemed to be conflating the testing of missiles that deliver a nuclear warhead and the testing of nuclear weapons.
Trump said that other countries “seem to all be nuclear testing” but when it comes to the U.S., “We have more nuclear weapons than anybody. We don’t do testing.”
The U.S. tests its missiles, as does China and Russia. But the U.S. has not done an explosion test on its nuclear warheads since 1992 and no country outside of North Korea has done those tests on their weapons since the 1990s.
“I see them testing and I say, well, if they’re going to test, I guess we have to test,” Trump said.
Trump was asked where the tests would occur and he said, “It’ll be announced. We have test sites.”
Tariffs on Chinese exports are now 47%, Trump says
The new rate comes from Trump deciding not to move forward with his latest tariff threat, which would have created a 157% levy.
Trump decided to reduce the current rate from 57% to 47% because China agreed to help more on reducing the flow of fentanyl ingredients.
Trump says he’ll work with Xi on Ukraine war
“We’re both going to work together to see if we can get something done,” he said.
However, Trump suggested that “there’s not a lot more we can do.”
He said, “The sides are locked in, fighting, and sometimes you’ve got to let them fight, I guess.”
Trump said they did not discuss China’s purchase of Russian oil, which boosts Moscow’s economy during the conflict.
China and Nvidia will talk about chips, Trump says
The U.S. president said China will speak with Silicon Valley chipmaker Nvidia about purchasing their computer chips.
“We make great chips,” Trump told reporters on Air Force One. “Nvidia’s the leader.”
It wouldn’t include the next-generation Blackwell AI chip, “but a lot of the chips,” Trump said.
Trump says he’d return for a Kim Jong Un meeting
The U.S. president, speaking with reporters after departing South Korea, said he did not connect with the North Korean leader during his Asia trip.
He stressed that the two leaders maintained a good relationship and said he’d be willing to return for a Kim visit.
“I’d come back with respect to Kim Jong Un,” Trump said.
The two men met three times during Trump’s first term.
A thaw with Canada?
Trump and Canadian Prime Minister Mark Carney shared a dinner table last night in Gyeongju, where there were both visiting.
“We had a very nice conversation with him last night,” Trump said.
The president has been angry at Canada, even increasing tariffs, because of a critical television advertisement about his trade policy.
Trump says Taiwan wasn’t discussed
There was speculation ahead of the meeting that Xi would push Trump to reduce U.S. support for the self-governing island of Taiwan, which China views as part of its territory. But Trump said they didn’t talk about it.
“Taiwan never came up,” he said.
Trump updates his travel plans
The president said he would go to China in April, and then Xi would visit the U.S. after that.
It’s the most specific he’s been about plans for next steps between the two leaders.
Trump says he’s reached deals with Xi
Speaking to reporters aboard Air Force One, Trump said China would end restrictions on rare earth exports and buy American soybeans.
He also said the U.S. would reduce tariffs that were implemented earlier this year as punishment for the flow of fentanyl ingredients.
When discussing how he would rate the meeting on a scale from 1 to 10, Trump said it would be a 12.
Trump heads back to the U.S.
The president headed home, wrapping up a trip to Asia that had Trump spending five days in three countries.
His long flight back to Washington has him scheduled to land Thursday afternoon, where he’s shortly thereafter expected to attend a White House Halloween celebration.
What did Trump and Xi talk about?
Before the meeting, there was a rough idea of the agenda, including tariffs, computer chips, rare earth minerals and other points of tension. Trump repeatedly said he expected to be able to reach a deal with Xi.
But there was no immediate word on their conversation once it ended. Trump boarded Air Force One without speaking to reporters, and the White House did not make any announcements.
Trump boards Air Force One
With the 1 hour and 40 minute meeting with Xi over, Trump boarded the stairs to his plane. He pumped his fist at the top and waved before stepping inside.
The president is returning to Washington after stops in Malaysia, Japan and South Korea.
Trump and Xi end their meeting
The two leaders walked out of the building alongside each other, briefly chatting in front of the cameras. They shook hands and Trump leaned in as if he was whispering in Xi’s ear.
Trump-Xi meeting is underway
The two leaders welcomed the press in for brief introductory remarks but now are talking behind closed doors flanked by their top officials.
Journalists left the meeting room shortly after 11:15 a.m. local time in Busan.
Trump said he and Xi could meet for as long as three hours. The official White House schedule, however, has the meeting running just under two hours.
Xi says US and China should be ‘partners and friends’ despite ‘frictions’
The Chinese leader spoke for longer than Trump in his opening remarks, saying “it feels very warm seeing you again because it’s been many years.”
“We do not always see eye to eye with each other,” Xi said through a translator, adding that “it is normal for the two leading economies of the world to have frictions now and then.”
However, he said, China and the U.S. “are fully able to help each other succeed and prosper together.”
Trump and Xi convene their bilateral meeting
Shortly after their handshake, Trump and Xi moved to a room to hold their talks.
“It’s an honor to be with a friend of mine,” Trump said of Xi. He said the two will be having some discussions, but “I think we’ve already agreed to a lot of things.”
Accompanying Trump were trade representative Jamieson Greer, Commerce Secretary Howard Lutnick, Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, White House chief of staff Susie Wiles and David Perdue, the U.S. ambassador to China.
Trump announces nuclear weapon tests
There was no indication that the U.S. would start detonating warheads, and the military already regularly tests its missiles and other equipment.
The president suggested changes were necessary because other countries were testing their weapons. Russia has announced multiple tests recently.
Trump wrote on social media while en route to Busan that the Pentagon will “start testing our Nuclear Weapons on an equal basis” and “that process will begin immediately.”
The White House did not immediately respond to questions seeking more details.