Trump and Xi Meet to Resolve Tariff Tensions

US President Donald Trump and Chinese Communist Party leader Xi Jinping have met face-to-face in South Korea to stabilize relations and resolve tariff tensions.

Before the bilateral meeting, Trump indicated that the parties are showing signs of alignment, stating: “We’ve already agreed to a lot of things and we will agree to some more right now.”

“I think we’re going to have a fantastic relationship for a long period of time,” Trump said in a video posted to X by The White House on Thursday. The Rapid Response 47 X account confirmed that the meeting has since wrapped up.

President Donald J. Trump meets with Chinese President Xi Jinping in South Korea.

“I think we’re going to have a fantastic relationship for a long period of time, and it is an honor to have you with us.” pic.twitter.com/ISpVBzkvN3

— The White House (@WhiteHouse) October 30, 2025

Trump’s use of tariffs since returning to the White House, combined with China’s retaliatory limits on exports of rare earth elements, has fueled fears of an economic slowdown, with some of the most severe tariff implementations triggering crashes in the crypto market in recent months.

That included the Oct. 10 market crash, which saw Bitcoin (BTC) fall from $121,560 to below $103,000.

Reports from mainstream media state that neither the US nor China want to risk destabilizing the world economy, warranting an in-person meeting to decide how to best move forward with the tariffs.

Trump not expected to follow through with recent tariff threat

US officials have signaled that Trump doesn’t intend to follow through with his threat to impose an additional 100% import tax on Chinese goods, while China is expected to ease up export controls on rare earths and potentially buy soybeans from the US.