Trump says ‘we have a deal’ with China’s Xi Jinping — calls South Korea summit meeting ‘12’ out of 10

President Trump announced “we have a deal” shortly after meeting with Chinese President Xi Jinping Thursday in their first face-to-face since he returned to the White House.

“On the scale of 0 to 10, with 10 being the best, I would say the meeting was a 12,” Trump told reporters on Air Force One after leaving the South Korean air base that hosted the nearly two-hour summit.

“We have a deal. Now, every year we will renegotiate the deal. But I think the deal will go on for a long time.”

Trump said that Xi agreed to pause for a period of one year Beijing’s new export restrictions on products made with rare-earth and critical minerals, which could have impacted the global supply of high-tech magnets, batteries and semiconductors.

The breakthrough averts Trump’s threatened 100% additional tariff on Chinese goods, which would have taken effect on Nov. 1 in protest of the export restrictions, which required companies to seek special permission for shipments.

“There’s no roadblock at all on rare earth,” he said. “It’s a one-year deal that I think will be very routinely extended.”

Trump said Xi also agreed to a renewed crackdown on fentanyl exports and that the US in turn would reduce the 20% fentanyl tariff on Chinese goods to 10%, bringing the average tariff on Chinese goods from 57.6% to 47.6% — slightly lower than the 50% rate currently applied to Brazil and India.

Xi additionally committed to buy “tremendous amounts of soybeans” after halting purchases this year in retaliation for Trump’s fentanyl tariff.

“What can I say? It was an outstanding group of decisions that was made. A lot of decisions were made too — it wasn’t too much left out there,” Trump said, adding that he plans to visit China in April.

Donald J. Trump / @realDonaldTrump 10/30/2025 04:09:59

"I had a truly great meeting with President Xi of China.
There is enormous respect between our two Countries,
and that will only be enhanced with what just took place.
We agreed on many things, with others,
even of high importance, being very close to resolved.
I was extremely honored by the fact that President Xi authorized China
to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products.
Our Farmers will be very happy!
In fact, as I said once before during my first Administration, Farmers should immediately go out and buy more land and larger tractors.
I would like to thank President Xi for this! Additionally, China has agreed to continue the flow of Rare Earth, Critical Minerals, Magnets, etc., openly and freely.
Very significantly, China has strongly stated that they will work diligently with us to stop the flow of Fentanyl into our Country.
They will help us end the Fentanyl Crisis.
China also agreed that they will begin the process of purchasing American Energy.
In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to see if such an Energy Deal can be worked out.
The agreements reached today will deliver Prosperity and Security to millions of Americans.
After this Historic trip to Asia, I am now heading back to Washington, D.C.
I want to thank the Great Countries of Malaysia, Japan, and South Korea for being so generous, gracious, and hospitable — Also, Australia, Canada, New Zealand, Singapore, Thailand, and Vietnam, who were at the Dinner last night hosted by His Excellency Lee Jae Myung.
Hundreds of Billions of Dollars are being brought into our Country because of them.
Our Nation is Strong, Respected, and Admired Again and, THE BEST IS YET TO COME!"

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