Chinese President Xi Jinping announced that China and the United States have reached a consensus on key economic and trade matters, according to reports from state media, following his high-profile meeting with US President Donald Trump on Thursday, October 30, 2025, in Busan, South Korea.
The encounter marked the first face-to-face talks between the two leaders since 2019, drawing global attention as the world’s two largest economies continue to grapple with a prolonged trade war that has disrupted markets and supply chains worldwide.
The ongoing standoff covering sectors from rare earth minerals and agricultural products to shipping tariffs and port fees has strained economic relations and rattled investor confidence for months.
According to China’s Xinhua News Agency, President Xi told Trump that Beijing and Washington should pursue “positive interactions” on both regional and global platforms to stabilize economic cooperation and reduce tensions.
Xi further noted that negotiation teams from both sides had held extensive discussions, leading to a mutual understanding on ways to resolve their trade differences. However, Xinhua’s report did not specify the precise details of the agreements or policy adjustments reached during the talks.
“Both delegations should refine and finalize follow-up measures promptly, implement the consensus reached, and deliver tangible results that will reassure the economies of China, the United States, and the world at large,” Xi said.
The Busan meeting is seen as a significant diplomatic step in efforts to cool tensions between Beijing and Washington, whose trade and technology rivalry has dominated global economic discourse in recent years.
