President Trump declared “we have a deal” Thursday after his first face-to-face meeting with Chinese President Xi Jinping since returning to the White House — calling the South Korean summit “a 12 out of 10.”
Aboard Air Force One, the president spoke with the press, saying, “On the scale of 0 to 10, with 10 being the best, I would say the meeting was a 12,” he said. “We have a deal. Now, every year we will renegotiate the deal. But I think the deal will go on for a long time.”
The meeting produced movement on some of the hardest fronts: rare-earth exports, fentanyl enforcement, and trade tariffs. “There’s no roadblock at all on rare earth,” Trump said. “It’s a one-year deal that I think will be very routinely extended.”
Xi agreed to pause his new export restrictions on critical minerals — a reprieve that keeps the world’s supply chains from seizing up and sidesteps the 100% tariff hike Trump had planned for Nov. 1. In return, the United States will cut the fentanyl-related tariff on Chinese goods from 20% to 10%.
China, Trump added, will resume “large-scale soybean purchases,” a small line that lands like a windfall in America’s farm belt.
“What can I say? It was an outstanding group of decisions that was made,” Trump said. “A lot of decisions were made too — it wasn’t too much left out there.” He plans to visit China in April.
Later, Trump expanded on the moment in a lengthy TRUTH Social post:
“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!”
