What does the Trump-Xi meeting mean for trade, technology, security, and beyond?

On a scale of zero to ten: “twelve.” That’s how US President Donald Trump rated his meeting with Chinese President Xi Jinping at an air base in Busan, South Korea, on Thursday.

The two leaders agreed to pull back some trade measures and work together on other pressing issues. After the meeting, Trump said that he agreed to cut tariffs on Chinese imports to the United States, while China agreed to increase purchases of US soybeans. Other issues discussed include trade measures on rare earths and computer chips, as well as US concerns over ownership of the social media platform TikTok.

The long-awaited meeting between Trump and Xi delivered real results—and a lot of stepping back from ledges both sides created over the past year. China walks away with approximately the same tariff rate as most of its Asian neighbors, a welcome victory that will ensure its exports continue to provide ballast to a struggling domestic economy. The United States gets soybean purchases, which will alleviate some of the pressure the administration had been feeling from farmers—as a bipartisan vote against tariffs in the Senate showed this week. Key questions surround China’s one-year pause on rare earth export controls, including whether US allies will get the same exemption. Europe will be trying to negotiate a similar arrangement this week, but without the tariff leverage Trump has wielded effectively.  

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