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ETMarkets.comChina agrees to work together with US on Ukraine In the ‘12 out of 10’ rated Trump-Xi meeting, US President Donald Trump announced that he and Chinese President Xi Jinping have agreed to "work together" on the conflict in Ukraine. Speaking to reporters aboard Air Force One after their high-stakes talks in Busan, South Korea, Trump emphasized the significance of the issue and expressed optimism about the collaborative approach."Ukraine - we're both going to work together - we agree that the sides are locked in fighting and sometimes you gotta let them fight I guess. But we're going to work together on Ukraine," said Trump as reported by BBC.China's agreement to engage with the US on Ukraine could have profound implications. It may reduce Beijing’s overt support for Moscow amidst the ongoing war, signaling a shift toward balancing strategic interests with global responsibility. This cooperation could pressure Russia diplomatically and create new opportunities for peace negotiations.China’s historical support for Russia in Ukraine warChina has long been a crucial ally to Russia throughout its conflict with Ukraine since 2022. Beijing has consistently refrained from imposing sanctions on Moscow, openly criticized NATO expansion as a root cause of the conflict, and avoided condemning Russia’s invasion in international forums like the United Nations. Crucially, China remains Russia’s largest buyer of oil and natural gas, providing vital economic support enabling Moscow to sustain its war efforts amid Western sanctions.Live EventsChina has also facilitated military support, supplying Russia with dual-use technology, drone components, and other strategic materials, while engaging in joint military exercises and signaling a strong strategic partnership. Trade between China and Russia has significantly surged since 2022, with payment systems circumventing Western financial controls through ruble-renminbi transactions.Chinese officials have articulated that Moscow’s defeat would alter the global power balance unfavorably for Beijing by allowing the United States to intensify pressure on China, which underpins Beijing’s motivation to help sustain Russia’s regime stability.Notable agreements in Trump-Xi meetingThe two leaders also agreed on major breakthrough deals in US-China trade relations. Trump announced a reduction of tariffs on Chinese goods from 57% to 47%, effective immediately, easing tensions that had escalated global market instability. Additionally, fentanyl-related tariffs on China were cut from 20% to 10%, reflecting cooperation on opioid trafficking concerns.A landmark one-year agreement was also announced ensuring uninterrupted supply and trade of rare earth minerals from China to US, essential for industries ranging from electronics to defense, to counteract previous restrictions and export controls that had threatened global supply lines. The deal is set for annual renegotiations, emphasizing sustained cooperation.Meanwhile, China agreed to increase purchases of US soybeans, ameliorating a major sticking point affecting American farmers amidst the trade war.Despite the broad scope of negotiations, the sensitive issue of Taiwan was notably absent from discussions, with Trump stating it "never came up." Trump announced plans to visit China in April 2026, with Xi expected to reciprocate shortly thereafter.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onXi JinpingDonald TrumpUkraineMoscowoil and natural gaseconomic supporttariffsrare earth minerals (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onXi JinpingDonald TrumpUkraineMoscowoil and natural gaseconomic supporttariffsrare earth minerals(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123
