A significant one-year trade truce has been declared between the US and China, marked by the US slashing tariffs and China agreeing to buy American soybeans. This deal was cemented after a meeting between Presidents Trump and Xi.
The agreement represents a major de-escalation. The US will roll back some tariffs and export controls. In exchange, China will not only purchase soybeans but also pause any fresh restrictions on its exports of rare earths, a critical component in global tech manufacturing.
President Trump hailed the breakthrough, calling his meeting with Xi “amazing.” He also announced plans for mutual state visits, with Trump traveling to China in April and Xi visiting the US at a later date.
A key part of the deal for Beijing was a US commitment to postpone a new, restrictive technology measure for one year. This rule would have targeted Chinese firms with partial ownership by sanctioned companies, cutting them off from US tech.
Speaking at the APEC forum in South Korea after the meeting, President Xi built on this cooperative spirit. He called on nations to “join hands” to protect global supply chains and practice “genuine multilateralism.”
Trade Truce: US Slashes Tariffs, China Buys Soybeans in New Pact
