Donald Trump says rare earths dispute ‘settled’ after Xi Jinping meeting in South Korea – live updates

US president Donald Trump said on Thursday that China agreed to begin the process of purchasing US energy.

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Trump said in a Truth Social post:

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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.

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In case you’re just joining us, here’s a rundown on what happened at the high-stakes talks between Donald Trump and Xi Jinping in South Korea.

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Trump said afterwards that Washington’s dispute with Beijing over the supply of rare earths has been settled, China would resume buying US soybeans and Washington would reduce its tariffs on China.

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Trump shook hands with Xi after their talks and boarded Air Force One to return to Washington, saying onboard that the meeting had been a “great success”.

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He told reporters the Chinese leader had agreed to work “very hard” to prevent the production of the synthetic opioid fentanyl – blamed for many American deaths – and in exchange the US would reduce fentanyl-linked tariffs from 20% to 10%, lowering the overall tariff burden from 57% to 47%.

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Trump also said he would visit China in April and that Xi would come to the US some time afterwards.

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In key developments:

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  Xi said after the meeting that he and Trump had reached “consensus” on trade issues, Chinese state media reported. Xi said both sides should “finalise follow-up work as soon as possible, maintain and implement the consensus and provide tangible results to set minds at ease about the economies of China, the United States and the world”.

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  Trump said they had agreed to work together on Ukraine, adding that the war “came up very strongly” as an issue. “We talked about it for a long time, and we’re both going to work together to see if we can get something.”

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  Taiwan was not discussed at the meeting, Trump said. Earlier, both leaders ignored a question about the self-governing democracy, amid concern in Taipei that Trump may be willing to make concessions to Xi.

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  Before the meeting at Gimhae airbase in Busan, South Korea – their first face-to-face meeting in six years – Trump and Xi shook hands in front of their countries’ flags and the US president said: “We’re going to have a very successful meeting.” He added: “He’s tough negotiator – that’s not good,” before patting the Chinese leader on the back.

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and Xi shake hands as they leave after their talks at Gimhae air base in Busan, South Korea, on Thursday”,”caption”:”Trump and Xi shake hands as they leave after their talks at Gimhae air base in Busan, South Korea, on Thursday. “,”credit”:”Photograph: Andrew Caballero-Reynolds/AFP/Getty Images”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”

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  Trump had suggested before the meeting – at which their delegations faced each other across a negotiating table – that it could last three or four hours. The two leaders parted after one hour and 40 minutes.

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  Xi said China and the US should “stay on the right course” and “be partners and friends” and should “work together to accomplish more great and concrete things for the good of our two countries and the whole world”.

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  The optimism in Busan was in stark contrast to the recent exchanges of aggressive rhetoric over trade that had threatened to set the US and Chinese on an economic collision course, with potentially disastrous consequences globally. China’s yuan retreated from a near one-year high against the dollar on Thursday after the meeting met expectations but gave investors few new reasons for trade optimism.

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  Minutes before meeting Xi, Trump said in a social media post that he had ordered the Pentagon to start nuclear weapons testing at the same level of China and Russia. He did not respond to a reporter’s question about the decision as he and Xi began their summit.
  With Justin McCurry and agencies

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Chinese state media is reporting that Xi Jinping says “consensus” was reached with Trump on trade issues.

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It also said after the leaders’ meeting that they agreed to strengthen cooperation in energy and trade.

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They also agreed to maintain communications, news agencies cited state media as saying.

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China’s Xinhua agency quoted Xi as saying:

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n

The economic and trade teams of the two countries exchanged in-depth views on important economic and trade issues and reached a consensus on resolving them.

n

Both teams should refine and finalise follow-up work as soon as possible, maintain and implement the consensus and provide tangible results to set minds at ease about the economies of China, the United States and the world.

n

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Trump has just given a press conference on a very bumpy Air Force One. He’s gone into quite a bit of detail about the meeting’s outcomes, saying it was a 12 out of 10. Trump said the meeting was “amazing”, with “an outstanding group of decisions made”.

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“We’ve come to a conclusion on many important points,” he said.

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Noting that we do not yet have anything from the Chinese side on their interpretation of events, here are some key takeaways from what Trump has said:

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Visits

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The US president told reporters he would go to China in April and that Xi “will be coming here some time after that. Whether it’s in Florida, Palm Beach or Washington DC”.

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Rare earths

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Trump said China has agreed on a one-year deal to supply rare earths, after its shock announcement that it was banning exports if there was any chance of the products having dual use for foreign militaries or some semiconductor sectors. But Trump said Xi said “they’re gonna keep those flowing”. He expected the one-year deal to be extended.

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Trump said:

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n

All of the rare earth has been settled. That roadblock is gone now, there’s no roadblock at all on rare earths.

n

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Tariffs

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Trump said Xi was going to “work very hard to stop the flow” of precursor chemicals that the US said are being used to make fentanyl. The US had put a 20% tariff on Chinese products specifically to pressure Beijing over fentanyl. Today Trump says he’s reduced it to 10%, lowering the overall tariff burden from 57% to 47%.

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Chips

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Trump said he and Xi discussed China buying chips from Nvidia, but that US was more of an “arbitrator or referee” between them. When asked if he was going to allow Nvidia’s new Blackwell AI chip to be sold to China, Trump said: “We’re not talking about the Blackwell … But a lot of chips, you know, a lot of the chips. And that’s good for us”.

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Ukraine and Taiwan

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The war in Ukraine, sparked by Russia’s 2022 invasion, “did come up”, Trump said, saying the US and China are going to work together on it to stop people being killed.

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However, he also said:

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n

The two sides are locked in fighting, and sometimes you’ve got to let them fight I guess. Crazy.

n

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Taiwan, which China is threatening to annex militarily, “never came up”, Trump said on Air Force One. “That was not discussed actually.”

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Donald Trump has said a deal he struck to reduce tariffs on China involves Beijing in return resuming US soybean purchases, keeping rare earths exports flowing and cracking down on the illicit trade of fentanyl.

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Trump also said after his meeting with Xi Jinping that it had been a “great success” and and he would visit China in April for new talks.

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The US president repeatedly talked up the prospect of reaching an agreement with Xi since US negotiators on Sunday said they had agreed on a framework with China that would avoid 100% US tariffs on Chinese goods and achieve a deferral of China’s export curbs on rare earths, a sector it dominates.

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Chinese stocks climbed to a decade high and the yuan currency to a near one-year peak against the dollar as investors hoped for an easing of trade tensions that have upended supply chains and rocked global business confidence.

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Trump told reporters aboard Air Force One about the leaders’ coming visits:

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n

I’ll be going to China in April and he’ll be coming here sometime after that, whether it’s in Florida, Palm Beach or Washington DC.

n

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“A lot of things we brought to finalisation” at Thursday’s talks in Busan, Trump added.
With agencies

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The last time Xi and Trump met was in June 2019, during Trump’s first term. Looking back at it feels … familiar.

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The meeting was in Osaka, on the sidelines of the G20, and just months after trade talks (during the first Trump-China trade war) had broken down. The US had accused China of reneging on trade promises, and Trump raised tariffs from 10% to 20% on about $200bn of Chinese imports. China had hit back with its own tariffs.

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Today, a mishmash of overlapping industry and punishment specific tariffs are on average far higher, and the US is threatening 100% tariffs if China doesn’t back down from its ban on some rare earth sales.

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But in 2019 the meeting appeared to help, with Trump declaring things to be “right back on track”. He praised Xi as a great leader, and Xi noted there had been disagreements but that it was important the relationship remain strong.

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Both sides said they would not impose further tariffs and that the world’s two biggest economies would restart negotiations on a trade deal. He said China would soon be buying “a tremendous amount of food and agricultural product”, again in parallel with today’s meeting as Trump sought to have China restart its US soybean purchases.

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Continued next post

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Trump also said the rare earths issue has been settled and there would be no more roadblocks on them.

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Speaking aboard Air Force One, the US president was also reported as saying it was a one-year agreement that would be extended.

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Trump also said US tariffs on China would be lowered to 47% from 57%.

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He said he would be going to China in April and that Xi would come to the US at some stage after that, in comments carried by Reuters.

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He also said Taiwan didn’t come up during the meeting.

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We’re seeing live footage of Trump and Xi leaving the negotiations building after shaking hands.

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Xi has gotten into a limousine and it is being driven away.

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The meeting reportedly lasted one hour and 40 minutes.

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and Xi shake hands after their high-stakes meeting in Busan”,”caption”:”Trump and Xi shake hands after their high-stakes meeting in Busan. “,”credit”:”Photograph: Andrew Caballero-Reynolds/AFP/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1761796609000,”blockCreatedOnDisplay”:”03.56 GMT”,”blockLastUpdated”:1761797432000,”blockLastUpdatedDisplay”:”04.10 GMT”,”blockFirstPublished”:1761796634000,”blockFirstPublishedDisplay”:”03.57 GMT”,”blockFirstPublishedDisplayNoTimezone”:”03.57″,”title”:”Trump-Xi meeting ends”,”contributors”:[],”primaryDateLine”:”Thu 30 Oct 2025 09.12 GMT”,”secondaryDateLine”:”First published on Thu 30 Oct 2025 01.00 GMT”},{“id”:”6902e16d8f0828c07236c83d”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”

Chinese state media is saying the Trump-Xi meeting has finished.

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At the table for the talks Trump said that “Xi is a great leader of a great country, it is an honour to have you with us”.

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Xi Jinping said it was a great pleasure to see Trump, adding:

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n

Given our different national conditions we do not always see eye to eye and it is normal for the two leading economies of the world to have friction now and again.

n

You and I should stay the right course.

n

I always believe China’s development goes hand in hand with your vision to make America great again.

n

China and the US should be partners and friends.”

n

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President Donald Trump and China’s leader Xi Jinping hold talks at the Gimhae Air Base, located next to the Gimhae International Airport in Busan”,”caption”:”US President Donald Trump and China’s leader Xi Jinping hold talks at the Gimhae Air Base, located next to the Gimhae International Airport in Busan “,”credit”:”Photograph: Andrew Caballero-Reynolds/AFP/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1761790622000,”blockCreatedOnDisplay”:”02.17 GMT”,”blockLastUpdated”:1761790985000,”blockLastUpdatedDisplay”:”02.23 GMT”,”blockFirstPublished”:1761790702000,”blockFirstPublishedDisplay”:”02.18 GMT”,”blockFirstPublishedDisplayNoTimezone”:”02.18″,”title”:”Xi says China and the US should be ‘partners and friends'”,”contributors”:[],”primaryDateLine”:”Thu 30 Oct 2025 09.12 GMT”,”secondaryDateLine”:”First published on Thu 30 Oct 2025 01.00 GMT”},{“id”:”6902c8ac8f0860207cef0ffa”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”

Donald Trump and Xi Jinping have greeted each other and shaken hands.

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Trump said Xi was a “very tough negotiator and that’s not good”.

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In the comment to reporters in Busan before the meeting got under way, the US president also said: “We have a great relationship.”

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Asked if he planned to sign a trade deal, Trump said: “Could be.”

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The Chinese president didn’t make any comments, but said later at the negotiating table that “China and the US should be partners and friends”.

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Xi Jinping is now meeting Donald Trump in Busan, Reuters has cited Chinese state media as saying.

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We’ll bring you confirmation as soon as we get it.

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As mentioned earlier, it’s the two leaders’ first meeting since 2019 and it comes amid hopes that they can hammer out a trade deal that will bring a truce in the blistering trade war between the world’s two largest economies.

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Donald Trump says he has told the US defence department to immediately begin nuclear testing on a par with Russia and China’s testing.

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The US president posted on his Truth Social platform a short while ago in the lead-up to today’s talks with Xi Jinping that the US “has more nuclear weapons than any other country” and claimed he accomplished that during his first term, also saying:

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n

Because of the tremendous destructive power, I HATED to do it, but had no choice! Russia is second, and China is a distant third, but will be even within 5 years.

n

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Trump’s post also said:

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n

Because of other countries testing programs, I have instructed the Department of War to start testing our Nuclear Weapons on an equal basis. That process will begin immediately.

n

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Here’s our full report:

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Our reporter in Busan, Justin McCurry, has sent this analysis ahead of the Trump-Xi meeting:

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Donald Trump has racked up several wins during his tour of Asia: including a deal with Japan to secure the mining and processing of rare earths and the conclusion of a trade agreement with South Korea that commits Seoul to significant investments in the US economy.

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But it is the outcome of his imminent meeting with the Chinese leader, Xi Jinping, that will determine whether his weeklong visit to the region has been a success.

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Given the high stakes, pressure is building on both leaders to abandon the aggressive rhetoric of recent months and reach a deal that will benefit their interdependent economies and avoid unleashing chaos on the global economy.

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The mood music in Busan – the venue for their talks on the sidelines of the Apec leaders’ summit that opens in nearby Gyeongju on Friday– was as bright as the sky in the South Korean port city on Thursday morning.

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Trump has voiced optimism that a deal can be brokered that would ease Chinese restrictions on exports of rare-earth minerals vital to the US economy and see Beijing buy soybeans to help struggling US farmers. In return, Trump would drop threats to impose a 100% additional tariff on Chinese goods.

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Beijing, meanwhile, is willing to work together for “positive results”, according to foreign ministry spokesperson Guo Jiakun.

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Trump also said this week that he expects to reduce US tariffs on Chinese goods in exchange for a commitment by Beijing to curb the flow of precursor chemicals to make fentanyl, an opioid that has caused an epidemic of overdose deaths among Americans.

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There are no guarantees, of course, that any trade agreement Trump and Xi reach today will hold for the duration, as their countries compete for economic and geopolitical dominance in what some analysts are calling a new cold war.

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As Marine One touched down at Busan’s Gimhae international airport, few countries were following the progress of the Trump-Xi talks as keenly as Taiwan, a democratic, self-governing island that Beijing has vowed to “reunify” with the Chinese mainland.

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Concern is growing in Taiwan that Trump could offer concessions over the island – which the US is compelled to provide with the means to defend itself – despite indications from Trump that he had no plans to raise Taiwan with Xi.

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Rare earths are at the centre of several deals cut by Trump on his Asia tour. But what are they?

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Critical minerals are vital for the global economy and include nickel, manganese and cobalt. Rare earths are a specific, highly useful category of critical minerals that are used to make magnets essential for the auto, electronic and defence industries, as well as in renewable energy.

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Securing reserves and production of rare earths has become a flashpoint in global diplomacy and trade.

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On Monday the US and China agreed on a framework for a trade deal ahead of the Trump-Xi meeting.

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Treasury secretary Scott Bessent said the agreement – forged on the sidelines of the Association of south-east Asian Nations (Asean) summit in Malaysia on Sunday – would remove the threat of the imposition of 100% tariffs on Chinese imports starting on 1 November and include “a final deal” on the sale of TikTok in the US.

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Bessent said China said it would “delay” the export controls on minerals used in fighter jets, smartphones and electric vehicles for a year as part of the truce.

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China’s top trade negotiator, Li Chenggang, said both sides had reached a “preliminary consensus” and would next go through their respective internal approval processes.

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Today’s talks will centre on tariffs as Donald Trump seeks to end the bruising trade war with Beijing, while Taiwan and Russia are also likely to be discussed.

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“We have a lot to talk about with President Xi, and he has a lot to talk about with us,” Trump told reporters as he embarked on the trip. “I think we’ll have a good meeting.”

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Here is more detail on what the pair are likely to talk about:

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Hello and welcome to our live coverage of the first meeting between Donald Trump and Xi Jinping since 2019. The meeting comes amid hopes that the leaders of the US and China could hammer out a trade deal that would bring a truce in the blistering trade war between the world’s two largest economies which has roiled global markets and sent international supply chains into panic.

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Negotiators from Beijing and Washington have both confirmed a “framework” has been agreed. It is now down to Trump and Xi, who will meet on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit in South Korean today, to sign off on it.

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The meeting is set to begin at 11am local time – in one hour – in Busan, a port city about 76km (47 miles) south of Gyeongju, the Apec summit’s main venue. News reports a few minutes ago said Xi had left Beijing for South Korea, citing Chinese state media.

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High on the meeting’s agenda will be rare earths. China’s chokehold on the supply of the critical minerals – which are vital for US industries ranging from car making to military equipment – has been a powerful bargaining chip for Beijing.

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China controls about 70% of the world’s rare earths mining and more than 90% of its processing capacity. This month, Beijing increased its restrictions on the export of rare earths and related technologies, citing national security concerns. Analysts noted that it came soon after the US expanded restrictions on the export of advanced semiconductor technology to China.

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Also up for discussion will be the Ukraine war and China’s claim on Taiwan, although Trump said on Wednesday: “I don’t know that we’ll even speak about Taiwan.”

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The meeting comes after Trump visited Malaysia, Japan and South Korea on his Asia tour, striking a series of deals on rare earths.

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We will be closely following developments in Busan – stay with us.

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Key events

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Reuters has some reaction to Donald Trump’s post on Truth Social about the US defence department to immediately begin nuclear testing on a par with Russia and China’s testing (see 1.49am GMT)

A senior Russian lawmaker said Trump’s decision would herald a new era of unpredictability and open confrontation, state news agency RIA reported, while China’s foreign ministry called for the US to abide by its commitment to a moratorium on nuclear testing and uphold the global strategic balance and stability.

It was not immediately clear whether Trump was referring to nuclear-explosive testing, which would be carried out by the National Nuclear Security Administration (NNSA), or flight testing of nuclear-capable missiles. No nuclear power, other than North Korea, has carried out explosive testing in more than 25 years.

Russian senator Vladimir Dzhabarov said on Thursday that US president Donald Trump should negotiate with Russia, rather than imposing sanctions on it, state news agency RIA cited him as saying.

US president Donald Trump said on Thursday he has given South Korea approval to build a nuclear-powered submarine, a dramatic move that would admit Seoul to a small club of nations possessing such vessels.

The submarine will be built in a Philadelphia shipyard, where South Korean firms have increased investment, Trump wrote on social media.

Trump wrote on his Truth Social platform:

I have given them approval to build a Nuclear Powered Submarine, rather than the old fashioned, and far less nimble, diesel powered Submarines that they have now.

The US president, who met South Korean president Lee Jae Myung and other regional leaders during his visit, also said Seoul had agreed to buy vast quantities of US oil and gas.

Trump and Lee finalised details of a fraught trade deal at a summit in South Korea on Wednesday. Lee had also been seeking US permission for South Korea to reprocess nuclear fuel.

However, South Korea’s industry ministry said its officials had not been involved in any detailed discussions about building the submarines in Philadelphia.

While South Korea has a sophisticated shipbuilding industry, Trump did not spell out where the propulsion technology would come from for a nuclear-powered submarine, which only a handful of countries currently possess.

One opposition lawmaker said on Thursday the Philadelphia shipyard does not have facilities to build submarines, reports Reuters.

Asked about Trump’s submarine announcement, Hanwha Ocean, which owns the shipyard with another Hanwha affiliate, said it was ready to cooperate with both countries and provide support with advanced technology, but did not mention specifics.

Defence minister Ahn Gyu-back told lawmakers that plans called for South Korea to build its own submarins and modular reactors, and receive a supply of enriched uranium fuel from the US.

Trump says China to begin process of purchasing ‘American energy’

US president Donald Trump said on Thursday that China agreed to begin the process of purchasing US energy.

Trump said in a Truth Social post:

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.

Helen Davidson

Chinese state media reported shortly after the meeting that the US and China had reached a “consensus” on trade, but the language was a little vague.

We’ve now had more information which confirms the consensus Xi referred to in the meeting was actually developed by the US and China trade negotiation teams which met last Sunday in Kuala Lumpur. After that meeting we were told they had developed a “framework” for trade deals, including the forthcoming sale of TikTok.

A short time ago, China’s commerce ministry told reporters that consensus included:

• The US will remove the 10% fentanyl tariff on goods from mainland China, Hong Kong and Macao, and will extend its suspension of a 24% equitable tariff for another year. In return China will “adjust its countermeasures against the aforementioned US tariffs accordingly”. Both sides also agreed to extend certain tariff exclusions.

• The US will suspend its 50% penetration rule on export controls, and in return China will suspend its own export control measures – understood to be its ban on sales of rare earths to foreign countries for suspected dual-use purposes.

• The US will suspend for one year its Section 301 (harmful trade practises) investigations against China’s maritime, logistics, and shipbuilding industries for one year. In return China will suspend its related countermeasures.

The ministry said the two sides also reached agreement on issues including fentanyl control, the expansion of agricultural trade, and “handling individual cases involving relevant companies”, which could refer to trade blacklists or investigations against US or American firms based in the other country.

“Both sides further affirmed the outcomes of the Madrid trade consultations, with the US side making positive commitments in areas such as investment, and China agreeing to work with the US to properly resolve issues related to TikTok.”

Additional research by Lillian Yang

China’s defence ministry has said Beijing maintains an open attitude towards developing military relations with the US.

Zhang Xiaogang, a spokesperson for the defence ministry, told a press briefing that China hopes the US will work with them to jointly build equal, just, peaceful and stable military ties.

Lauren Almeida

Oil prices have fallen slightly as investors digest the new trade deal between Trump and Xi.

The two world leaders met in South Korea this morning, with Trump agreeing to reduce tariffs on China from 57% to 47% in a one-year deal, in exchange for Beijing resuming purchases of US soybeans, the continuation of rare earth exports and a crackdown on the trade of fentanyl.

Brent crude futures dropped by 0.31% to $64.72 a barrel this morning, while US West Texas Intermediate crude futures dropped by 0.33% to $60.28.

The drops suggest that some investors are sceptical that the new agreement marks an end to the trade war. But president Trump has said his discussions with Xi were “fantastic”, and emphasised their “great relationship”.

You can follow more market reaction to the meeting in our business live blog:

Earlier we reported that Donald Trump said he would visit China next year.

A Chinese foreign ministry spokesperson has now confirmed that, saying the trip has been scheduled for April.

Summary of the talks

In case you’re just joining us, here’s a rundown on what happened at the high-stakes talks between Donald Trump and Xi Jinping in South Korea.

Trump said afterwards that Washington’s dispute with Beijing over the supply of rare earths has been settled, China would resume buying US soybeans and Washington would reduce its tariffs on China.

Trump shook hands with Xi after their talks and boarded Air Force One to return to Washington, saying onboard that the meeting had been a “great success”.

He told reporters the Chinese leader had agreed to work “very hard” to prevent the production of the synthetic opioid fentanyl – blamed for many American deaths – and in exchange the US would reduce fentanyl-linked tariffs from 20% to 10%, lowering the overall tariff burden from 57% to 47%.

Trump also said he would visit China in April and that Xi would come to the US some time afterwards.

In key developments:

• Xi said after the meeting that he and Trump had reached “consensus” on trade issues, Chinese state media reported. Xi said both sides should “finalise follow-up work as soon as possible, maintain and implement the consensus and provide tangible results to set minds at ease about the economies of China, the United States and the world”.

• Trump said they had agreed to work together on Ukraine, adding that the war “came up very strongly” as an issue. “We talked about it for a long time, and we’re both going to work together to see if we can get something.”

• Taiwan was not discussed at the meeting, Trump said. Earlier, both leaders ignored a question about the self-governing democracy, amid concern in Taipei that Trump may be willing to make concessions to Xi.

• Before the meeting at Gimhae airbase in Busan, South Korea – their first face-to-face meeting in six years – Trump and Xi shook hands in front of their countries’ flags and the US president said: “We’re going to have a very successful meeting.” He added: “He’s tough negotiator – that’s not good,” before patting the Chinese leader on the back.

• Trump had suggested before the meeting – at which their delegations faced each other across a negotiating table – that it could last three or four hours. The two leaders parted after one hour and 40 minutes.

• Xi said China and the US should “stay on the right course” and “be partners and friends” and should “work together to accomplish more great and concrete things for the good of our two countries and the whole world”.

• The optimism in Busan was in stark contrast to the recent exchanges of aggressive rhetoric over trade that had threatened to set the US and Chinese on an economic collision course, with potentially disastrous consequences globally. China’s yuan retreated from a near one-year high against the dollar on Thursday after the meeting met expectations but gave investors few new reasons for trade optimism.

• Minutes before meeting Xi, Trump said in a social media post that he had ordered the Pentagon to start nuclear weapons testing at the same level of China and Russia. He did not respond to a reporter’s question about the decision as he and Xi began their summit.
  With Justin McCurry and agencies

Helen Davidson

On his Truth Social account before the meeting, Trump had described the Busan catch-up as the “G2”, a nod to the US and China being the world’s biggest economies and a play on the names of other formal multilateral groupings like the G7 and G20.

Even though it’s not an official name, “G2” has been welcomed by some Chinese people online.

“Clearly, the core of the global order is the US-China relationship”, said one popular post on Weibo.

Another said:

Americans’ attitudes are shifting quickly; they are gradually adapting to the idea that the US and China are starting to stand on equal footing, and the world is big enough to accommodate a G2.

With Lillian Yang