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Trump's G2 Meeting with Xi: How Historic Talks Forged New Trade Pact

President Trump described his meeting with Chinese President Xi Jinping as "a great one" that would benefit both nations. The leaders reached a significant trade agreement reducing US tariffs on Chinese imports by 10 percentage points. China committed to immediately purchasing large quantities of American soybeans and other agricultural products. The deal includes annual renegotiations but Trump expressed confidence it would continue long-term.

Key Points: Trump Calls China Meeting Great Announces Tariff Soybean Deal

  • Trump announces 10% tariff reduction on Chinese imports from 57% to 47%
  • China commits to immediate large-scale purchases of US soybeans and farm products
  • Trade deal includes annual renegotiation but expected to continue long-term
  • Tariff cut linked to China's "strong action" against fentanyl crisis
  • Meeting occurred during APEC Summit in Busan with positive bilateral outcomes
3 min read

Trump calls 'G2 meeting' with Chinese President Xi Jinping great one

President Trump hails "great" meeting with Xi Jinping, announces 10% tariff reduction and massive Chinese soybean purchases in landmark trade agreement.

"My G2 meeting with President Xi of China was a great one for both of our countries - Donald Trump"

Washington, November 2

United States President Donald Trump said on Sunday that his meeting with Chinese President Xi Jinping was "a great one" and would bring lasting peace and success for both nations.

In a post on Truth Social, Trump said, "My G2 meeting with President Xi of China was a great one for both of our countries. This meeting will lead to everlasting peace and success. God bless both China and the USA!"

The US President met the Chinese President Jinping on the sidelines of the APEC Summit in Busan, South Korea on October 30.

After his highly anticipated meeting, Trump said that Washington has reached a landmark one-year trade pact with China, slashing US tariffs on Chinese imports from 57 per cent to 47 per cent.

Speaking to reporters aboard Air Force One, Trump stated, "We have a deal," referring to the trade pact which will be routinely extended.

"Every year we'll renegotiate the deal, but I think the deal will go on for a long time, long beyond the year. We'll negotiate at the end of the year," he added.

Trump further noted that the 10 per cent tariff reduction on Chinese exports to the US was due to China agreeing to take "strong action" on the fentanyl issue.

"It was 57, now it's 47," the US President said.

"We reduced it by the fentanyl because I believe they are really taking strong action. We've already seen the action on fentanyl, and they're taking very strong action. So reduced to 10 per cent," he added.

Later, while speaking to reporters, Trump announced that China has committed to immediately purchase "large and tremendous amounts" of soybeans and other US farm products as part of a deal between the two nations.

During a gaggle aboard Air Force One following his departure to Washington, Trump hailed the decision as a "very nice gesture" from President Xi Jinping, noting that his Chinese counterpart had authorised the purchase a day earlier.

"We're in agreement on so many elements. Large amounts, tremendous amounts of the soybeans and other farm products are going to be purchased, starting immediately. If you notice, President Xi authorised yesterday for China to start buying very large quantities of soybeans and other things, which I appreciated. That was a very nice gesture," Trump said.

According to CNN, in May, China halted its purchases of US soybeans following Trump's announcement of tariffs, leaving farmers nationwide with billions of dollars' worth of unsold crops and prompting some to question the policies of a president many had supported.

- ANI

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Reader Comments

R
Rohit P
Good to see trade tensions easing, but let's not forget China's border aggression against India. Hope our government maintains strong stance while engaging with both powers. Jai Hind!
A
Arjun K
The fentanyl cooperation is positive, but I'm skeptical about China's commitments. They've broken promises before. India should strengthen its own manufacturing and reduce dependency on Chinese imports.
S
Sarah B
While this might be good for global economy, India must focus on Atmanirbhar Bharat. We can't rely on these superpower games. Our focus should be on self-reliance and strengthening domestic industries.
V
Vikram M
The soybean purchase deal shows how agricultural trade becomes a political tool. India should learn from this and build stronger food security systems. Our farmers deserve better market access globally.
M
Michael C
Respectfully, I think India should maintain balanced relations with both countries. Neither is a permanent friend or foe. Our foreign policy should prioritize national interest above all. Well handled so far by our government.

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