In October 2025, President Trump and Chinese President Xi Jinping met in Busan, South Korea. Both leaders were in Busan for the Asia-Pacific Economic Cooperation (APEC) summit. Although they reached a temporary agreement, considerable tension had built up before the meeting. President Trump had imposed very high tariffs on Chinese goods, while President Xi had placed export restrictions on some goods destined for the US as well as the EU. Most importantly, President Xi restricted rare earths; China believed it held a strong bargaining position because it dominates the rare earth market.
h/t Malcolm-Y (Incognito)
