Busan, South Korea – October 31, 2025 – In a high-stakes summit concluding a whirlwind Asia tour, former U.S. President Donald Trump—now back in the Oval Office—secured a one-year trade truce with Chinese President Xi Jinping. The agreement, announced Thursday, aims to ease escalating tensions between the world’s two largest economies, offering immediate benefits for American farmers and the supply of strategic minerals.
The meeting took place in the coastal city of Busan, where Trump and Xi engaged in hours of negotiations alongside their respective delegations. Under the terms of the truce, China has pledged to purchase 12 million metric tons of U.S. soybeans immediately, followed by commitments for at least 25 million tons annually over the next three years. The move provides a vital lifeline to U.S. soybean producers, who have been hit hard by previous trade disputes and volatile global markets.
In exchange, Beijing has agreed to delay implementing restrictions on rare-earth mineral exports—a critical concession given China’s dominance in the global supply chain for these materials, which are essential for electronics, renewable energy technologies, and defense systems. While the truce stops short of resolving deeper issues such as intellectual property theft and forced technology transfers, it offers a temporary reprieve, allowing both sides to recalibrate amid ongoing economic uncertainty.
“This is a tremendous deal for American workers and farmers,” Trump declared at a post-summit press conference. “We’ve shown that strong leadership can bring China to the table and deliver real results. No more bad deals—America first, always.”
The summit marked the culmination of Trump’s multi-nation Asia tour, which focused on strengthening economic ties and countering Chinese influence in the region. Earlier stops included Japan, where Trump secured pledges of billions in infrastructure and manufacturing investments from Japanese conglomerates, emphasizing joint ventures in the automotive and semiconductor sectors. In Malaysia, new agreements were signed to expand access to critical minerals such as tin and bauxite, bolstering U.S. supply chains amid global shortages.
The diplomatic push comes amid domestic turbulence in the U.S., including an ongoing government shutdown triggered by partisan disputes over federal spending and border security. Critics argue the timing of the tour distracts from pressing domestic issues, while supporters view it as a testament to Trump’s deal-making prowess.
Analysts suggest the truce may provide short-term market stability, with soybean futures already rising in early trading. However, questions remain over long-term enforcement and whether the agreement could pave the way for a more comprehensive trade pact. As both leaders departed Busan, the world watched closely to see whether this fragile peace would endure in an increasingly multipolar global order.
