Donald Trump Xi Jinping Meeting Live Updates: Trump reduces fentanyl tariff on China to 10% from 20%

Nvidia CEO Jensen Huang said on Thursday he was confident that US President Donald Trump and Chinese leader Xi Jinping had a good conversation during a meeting in South Korea earlier in the day.

Huang was speaking as he arrived at a restaurant in Seoul with Samsung Electronics Chairman Jay Y. Lee and Hyundai Motor Group Executive Chair Euisun Chung.

He said he was looking forward to meeting South Korea's president on Friday and that his company and the country had many announcements to make. (Reuters)

Soon after the meeting between Donald Trump and Xi Jinping, The Chinese defence ministry issued a statement indicating closer US-China cooperation in future. The Chinese defence ministry said that Beijing would keep "an open attitude" towards the development of the military relations between the two nations.

–Reuters

China and the US have agreed to extend their temporary trade truce for another year as part of an agreement they reached after top economic officials met in Malaysia last week, China's commerce ministry said in a statement on Thursday.

China will suspend related export control measures against the US it announced on October 9 for one year, as well as its relevant measures against the US regarding shipping once the United States' suspension begins, the ministry said.

Consensus was also reached between China and the US on issues including fentanyl and the expansion of agricultural product trade, it said.

Both sides will also properly resolve issues related to TikTok, the ministry said.

-Reuters

China hopes the United States will abide by its commitment to a moratorium on nuclear testing and obligations under a test ban treaty, the foreign ministry said on Thursday.

Responding to a query about U.S. President Donald Trump resuming nuclear weapons testing, ministry spokesperson Guo Jiakun said China hoped the United States would uphold the global strategic balance and stability.

-Reuters

US and China have reached to a consensus on 'major trade issues.' World's top two economies have agreed on "almost everything." China has offered no details yet, about the discussion with Trump.

Xi said that he is interested in working with US President Trump to set up strong China-US relationship. He also agreed to the fact that friction between such big economies is normal. Both sides showed great interest in improving the ties between them by resolving issues.

US president said that China has agreed to export 17 rare earth elements as a part of a one-year agreement and expects an extension of the deal later.

— BBC

Hours after meeting with US President ended, Chinese President Xi Jinping said that economic and trade teams of both the countries to constantly narrow down list of problems and extend list of cooperation, state media reported, according to Reuters.

He also said that there are good prospects for cooperation in the fields of combating illegal immigration, telecom fraud, and money laundering.

US President Donald Trump said on Thursday that it was appropriate for the US to resume testing nuclear weapons to ensure it keeps up with other nuclear powers.

Trump also told reporters that nuclear test sites would be determined later.

-Reuters

US President Donald Trump said that the US has a one-year trade pact with China that will be routinely extended. "We have a deal"

After concluding his meeting with Xi, US President Donald Trump said that there were no talks on Taiwan.

An official travelling with US President Donald Trump said that China will continue the exports of rare earths.

"No more roadblocks on rare earths," said Trump.

US President Donald Trump after meeting with his Chinese counterpart Xi Jinping said that the tariffs on China have been reduced by 10 per cent, effective immediately.

Trump had earlier imposed 57 per cent tariffs on China, which is now reduced to 47.

Chinese President Xi Jinping said that their and US President Donald Trump’s “trade teams have reached basic consensus” as the two leaders met in South Korea on Thursday for high-stakes talks aimed at easing months of trade friction. Xi also said the two countries “will have a fantastic relationship for a long time,” Reuters reported, citing China’s state news agency Xinhua.

The meeting, held at a South Korean air base in the port city of Busan, was their first face-to-face encounter since Trump’s return to the White House in January and took place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit.

Trump boards Air Force One after meeting with Chinese counterpart Xi ends.

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

The meeting reportedly lasted one hour and 40 minutes.

Chinese President Xi Jinping and US President Donald Trump have ended their meeting in South Korea, Chinese state broadcaster CCTV said on Thursday.

The leaders of the world's two largest economies held talks for about an hour and 40 minutes, CCTV said.

-Reuters

The leaders are now engaging in a close door meeting.

Questions were asked in the meeting regarding nuclear tests, Trump didn't answer, said thank you very much.

Chinese President Xi Jinping Thursday said that their trade teams have reached "basic consensus" on addressing our basic concerns.

Chinese Xi Thursday in a meeting with US President Donald Trump said that the two leaders should guide the direction of ties, state media Xinhua reported.

US President Donald Trump is joined by US Secretary of State Marco Rubio, Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, WH Chief of Staff Susie Wiles.

Chinese Xi Jinping is accompanied by Wang Yi.

US President Donald Trump met face-to-face with Chinese President Xi Jinping on Thursday, offering the leaders of the world’s two largest economies an opportunity to steady relations after months of trade tensions. Trump’s renewed use of tariffs since returning to the White House for a second term, along with China’s retaliatory restrictions on rare earth exports, has heightened the importance of the talks.

“We’re going to have a very successful meeting, I have no doubt,” Trump said as he and Xi shook hands. The US president described Xi as a “very tough negotiator,” adding that while a formal deal “could” be signed, the two leaders already share a “great understanding” of one another.

(With inputs from AP)

The building where the two leaders are meeting is part of the Gimhae Air Base, a South Korean air base that sits at the edge of the Gimhae International Airport.

US President Donald Trump in a meeting with his Chinese counterpart Xi Jinping said that he is sure that the meeting between them is going to be very successful.

Trump added that "he is a very tough negotiator and that's not good."

"We’ll have a great understanding we’ve always had a great relationship."

Chinese President Xi Jinping Thursday said he looks forward to exchanging views with you on questions important for our two countries.

US President Donald Trump said a trade deal with China could be signed on Thursday, as he met his Chinese counterpart Xi Jinping in South Korea.

Trump said he expected the two leaders to have a successful meeting and cast the Chinese president as a tough negotiator.

-Reuters

Chinese President Xi Jinping on Thursday told US President Donald Trump, “I appreciate your great contribution to the recent Gaza ceasefire.”

Chinese President Xi Jinping has arrived in South Korea's Busan city, Reuters reported citing Chinese state media.

A leading Republican voice in Congress on China policy said on Wednesday that selling Nvidia's best AI chip to China "would be akin (to) giving Iran weapons grade uranium", as experts argued it would shrink the American advantage in artificial intelligence.

House Select Committee on China Chairman John Moolenaar said in a post on X that he told the administration, "we cannot sell the latest advanced AI chips to our country's primary adversary."

His comment came after President Donald Trump opened the door on Wednesday to Nvidia selling a lesser version of its Blackwell AI chip to China.

U.S. trade experts said giving China the chips could effectively spell the end of U.S. chip export restrictions, which were put in place in 2022 to make sure Beijing's military would not benefit from American technology, and to slow the development of China's AI efforts.

"If we decide to export B30As, it would dramatically shrink the U.S.'s main advantage it currently has over China in AI," said Tim Fist, co-author of an analysis of the impact of allowing China the B30A chip, a downgraded version of Nvidia's state-of-the-art Blackwell chip.

Senate Democratic leader Chuck Schumer and 11 Democratic senators also urged Trump on Wednesday to not lift restrictions on AI chips and American technology in pursuit of a trade deal.

— Reuters

Guo Jiakun, the spokesperson of China’s Ministry of Foreign Affairs, said Beijing is willing to make joint efforts with the US side to work for positive outcomes of this meeting, which will provide new guidance and impetus for the stable development of bilateral relations.

The Trump administration has been signalling it may have finally reached a deal with China to keep TikTok running in the US. Treasury Secretary Scott Bessent told CBS’s “Face the Nation” that Trump and Xi will “consummate that transaction on Thursday in Korea.”