Trump Xi Meet in South Korea Yields Limited Trade Progress

US President Donald Trump and Chinese President Xi Jinping met for the first time in six years on the sidelines of the APEC summit in Busan, South Korea, aiming to ease ongoing trade tensions. They agreed on a framework to reduce tariffs related to fentanyl, with Trump halving the fentanyl-linked tariffs from 20% to 10%, and China committed to curbing the export of precursor chemicals used in fentanyl production. Additionally, China agreed to resume purchasing American soybeans and pause its planned export controls on rare earth minerals for one year, mitigating critical supply chain concerns. While the meeting was described by Trump as a "12" on a scale of 10 for success, no formal agreement was signed, and fundamental trade issues remain unresolved, suggesting the truce may only be temporary. Both leaders expressed optimism about future cooperation, with potential reciprocal visits planned, but some analysts remain skeptical about lasting change. The meeting lowered tensions and paused the trade war but did not fully resolve underlying economic and geopolitical disputes.