US-China Leaders Near Trade Deal, Signal Tariff Reductions

President Trump and Chinese President Xi Jinping met in South Korea to discuss and potentially finalize a trade deal aimed at easing ongoing tensions between the world's two largest economies. Both leaders expressed optimism about reaching an agreement that could include a reduction or rollback of tariffs, resumption of American soybean exports to China, and suspension of China's rare earth export restrictions. Trump described Xi as a "very tough negotiator" but expressed confidence in a strong, long-term relationship, while Xi acknowledged normal frictions yet emphasized steady cooperation. The anticipated deal would benefit American farmers and industries affected by the trade war, signaling a significant diplomatic win for the U.S. administration. Additionally, the talks covered broader issues including rare earth materials, fentanyl precursor chemicals, and regional security, reflecting a complex but constructive phase in US-China relations.