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The United States may be edging closer to a new trade agreement with China after President Donald Trump revealed that both nations could sign a deal “pretty soon.” This followed a high-profile meeting between Trump and Chinese President Xi Jinping in South Korea. Trump announced a reduction in tariffs on Chinese imports and confirmed that the long-standing dispute over the United States’ access to rare earth minerals had been resolved. “We’re going to have a fantastic relationship,” Trump said, describing the meeting as a “great success.” While Beijing has yet to issue a formal statement on the developments, China’s state media later reported that both leaders had reached a consensus on resolving “major trade issues.” According to the Xinhua News Agency, President Xi said the discussions yielded agreements aimed at providing a “reassuring pill” for both countries’ economies. Xi also noted that China and the United States had “promising prospects” for collaboration in areas such as combating illegal immigration, cyber fraud, money laundering, and artificial intelligence. He stressed that both nations could “jointly demonstrate the responsibility befitting of major powers” by pursuing mutually beneficial undertakings for their economies and the wider world. Trump’s announcement marks a potential breakthrough after months of renewed trade tensions between the world’s two largest economies. Earlier this year, the former president had imposed a series of steep tariffs on Chinese goods, citing issues related to the flow of fentanyl into the US. However, the latest discussions appear to have softened Washington’s stance. Trump revealed that the additional 20 percent tariff imposed on fentanyl would now be reduced to 10 percent, bringing the overall tariff rate on Chinese goods to “47 percent.” Analysts noted that while progress on trade is encouraging, uncertainty remains over other key issues, notably the unresolved negotiations surrounding the sale of TikTok’s US operations. The Trump-Xi meeting, which lasted over an hour and a half, has been widely interpreted as an attempt to stabilise relations and rebuild economic trust. Observers say Xi entered the talks with a strong hand, buoyed by China’s recent economic resilience and growing influence in global trade. If sustained, this renewed cooperation could signal a new phase in US-China relations after years of tariff battles and diplomatic friction. ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
