Donald Trump-Xi Jinping Meeting LIVE: Bessant says US to halt entity restrictions for one year after Trump-Xi meet

U.S. Treasury Secretary Scott Bessent on Thursday said that the U.S. would enact a one-year suspension of Entity List restrictions that make it harder for Chinese firms to use affiliates to buy off-limits technology, Reuters reported.

The moratorium comes after President Donald Trump and Chinese leader Xi Jinping were able to discuss big picture issues with great respect at their meeting earlier in the day in South Korea, Bessent said in an interview on Fox Business Network.

U.S. President Donald Trump may have teased that he could discuss Nvidia’s state-of-the-art artificial intelligence Blackwell chips with Chinese President Xi Jinping, but in the end, he said the topic did not come up.

After Thursday’s meeting in South Korea, Trump told reporters aboard Air Force One that semiconductors had been discussed and China was “going to be talking to Nvidia and others about taking chips,” but added: “We’re not talking about the Blackwell.”

A day earlier, Trump had praised the Blackwell chip as “super-duper”, adding he might speak to Xi about it, in comments that probably helped Nvidia make history as the first company to reach a $5-trillion valuation.

– via Reuters

China has urged the United States to sincerely follow its commitments under the Comprehensive Nuclear-Test-Ban Treaty after President Donald Trump announced that the US would soon restart nuclear weapons testing, reported CNN. A spokesperson for China’s Foreign Ministry said Beijing expects Washington to keep its promise to halt nuclear testing and to take real steps to support global disarmament, prevent nuclear proliferation, and maintain global stability.

China’s Defense Ministry also stressed that its nuclear policy has always been consistent and transparent. Trump recently said he had directed the Pentagon to resume nuclear tests after a 30-year break, warning that China and Russia could match US nuclear capabilities within the next five years.

The US has decided to delay its investigation into China’s shipbuilding industry, according to US Trade Representative Jamieson Greer, reported NBC News. “We’re going to postpone that while we negotiate with them about that issue,” he told reporters on Air Force One after President Trump’s meeting with Chinese leader Xi Jinping. Greer explained that the U.S. is working to revive its shipbuilding industry and mentioned that South Korea, one of the world’s top shipbuilders along with China, has agreed to invest $150 billion in shipbuilding cooperation with the U.S., where the sector has declined over the years. “We think we have a good path forward,” he added.

China’s Commerce Ministry in a statement after the high-stakes meeting between Trump and XI, said, “The Chinese side will make corresponding adjustments to its countermeasures against these US tariffs.” The Ministry further added that both the sides agreed to “further extend certain tariff exclusion measures”.

China’s Commerce Ministry has announced that Beijing will pause its new export restrictions on rare earth minerals and stop charging special port fees on US ships. The decision comes after the meeting between President Donald Trump and Chinese President Xi Jinping.

Earlier this month, China had sharply increased its export limits on rare earth minerals. This move followed Washington’s decision to expand its export control list to include companies that are at least 50% owned by firms already under restrictions.

China’s Commerce Ministry has shared new information about the recent trade talks between Washington and Beijing held in Kuala Lumpur, Malaysia, over the weekend, including discussions about TikTok. “The US side made positive commitments in areas such as investment, and the Chinese side will properly address issues related to TikTok,” the ministry said, according to state media.

It is still uncertain whether US President Donald Trump and Chinese President Xi Jinping have reached a deal that would allow TikTok to continue operating in the United States.

Trump, after his meeting with Xi, shared only limited details.

– Rare Earth deal: He said that the dispute over the trade of rare earth minerals had been resolved and that China was no longer blocking their supply, though he did not explain what the agreement included.

– Tariff cut: He announced that the US would immediately lower tariffs on Chinese goods that were earlier imposed because of fentanyl-related concerns.

– China-Nvidia talks: Trump also mentioned that Chinese officials would hold talks with Nvidia’s CEO, with the US acting as a neutral referee in those discussions.

– Russia-Ukraine War: He said both countries agreed to cooperate on the war in Ukraine, but the issue of Taiwan was not discussed.

– ‘Meeting a great success’: Trump called the talks a “great success” and confirmed that he plans to visit China in April next year, while Xi is expected to travel to the US sometime after that.

Trump while speaking aboard Air Force One, did not mention anything about the TikTok deal. He had earlier suggested that Washington could finalise an agreement with China over the same. Although he did mention that he would sign a trade deal with China “pretty soon”, he failed to mention anything about TikTok.

Japan has reaffirmed its commitment to achieving a world free of nuclear weapons after Trump announced that the United States would resume nuclear testing for the first time in 30 years. As the only country to have ever suffered nuclear attacks, Japan has maintained a strict non-nuclear policy since the end of World War II. This August, the nation marked 80 years since the atomic bombings of Hiroshima and Nagasaki.

Chief Cabinet Secretary Minoru Kihara said Japan would continue to pursue practical steps toward global nuclear disarmament. This includes pushing for the early enforcement of the Comprehensive Nuclear-Test-Ban Treaty and supporting the Non-Proliferation Treaty.

There doesn’t seem to be any major change in Washington’s technology export rules for now. After meeting Chinese leader Xi Jinping, US President Donald Trump said that China and chipmaker Nvidia would continue talks about chip exports. He explained that the White House would act only as a mediator in those discussions. Trump also clarified that the talks would not include Nvidia’s advanced Blackwell chip, which is one of the company’s top AI processors. However, he mentioned that many other types of chips could be part of the talks, though it’s not yet clear which ones might be approved for export to China.

When US President Donald Trump met and shook hands with Chinese leader Xi Jinping, millions of people in China followed the moment online. Their meeting quickly became the top trending topic on Weibo, China’s version of X, gaining over 250 million views, a CNN report said. Many users praised the meeting, calling it important for peace and global prosperity. The ongoing trade tensions and heavy tariffs between the two countries have affected economies and businesses on both sides, so many were eager to see if this meeting could help ease tensions and bring stability to US-China relations.

Trump mentioned that he did not meet North Korean leader Kim Jong Un during this trip because of his busy schedule but said a meeting could happen in the future. He spoke about having a good relationship with Kim and suggested that if he had not been elected, tensions might have escalated into a war, as Kim does not get along well with many others. The comments came shortly after North Korea launched surface-to-air cruise missiles just hours before Trump arrived in South Korea.

While speaking aboard Air Force One, Trump said he had a pleasant conversation the previous night with Canadian Prime Minister Mark Carney. The two leaders met face-to-face during a dinner, marking their first meeting since Trump called off trade talks last week following the broadcast of an anti-tariff television ad in Canada.

In his closing remarks aboard the Air Force One, Trump said that his meeting with Chinese President Xi Jinping was “a great success” and “a great honour”.

Trump also disclosed that he is planning a visit to China in April next year and that Xi will also be coming to the US “sometime after that”. The US President said that Xi is likely to visit Washington DC or Palm Beach in Florida.

Trump also said that he is ready to “work together” with China President Xi Jinping on Ukraine. “Ukraine – we’re both going to work together – we agree that the sides are locked in fighting and sometimes you gotta let them fight I guess. But we’re going to work together on Ukraine,” Trump said.

Trump mentioned that Chinese officials plan to hold talks with Nvidia CEO Jensen Huang, with US authorities acting as a kind of mediator in the discussions. He clarified that these talks would not include Nvidia’s Blackwell chip, which is regarded as its most advanced AI processor. Trump did not share more details about this part of the talks but added that the overall discussion involves many chips, which he said would benefit the U.S.

Soon after his meeting with Xi Jinping, Trump announced that the US was cutting the tariffs on China by 10%. As you know, I put a 20% tariff on China because of the fentanyl coming in, which is a big tariff. I reduced it by 10% so it’s 10% instead of 20% effective immediately,” Trump said while on-board the Air Force One.

Trump added that he believes Xi is “going to work very hard” to stop the death that’s coming in.”

US President Donald Trump described his meeting with Chinese leader Xi Jinping as “amazing,” saying both sides reached an understanding that China would take strong steps to curb fentanyl production, reported Guardian. Earlier this week, Trump had suggested that he might lower US tariffs on Chinese goods if Beijing agreed to help stop the export of chemicals used to make fentanyl — a deadly opioid that has caused a large number of overdose deaths across the United States.

The trade war picked up again this month after China announced plans to greatly expand limits on exporting rare-earth minerals, which are materials that are crucial for high-tech products and an area where China has major control. In response, Trump threatened to hit back with an extra 100% tariff on Chinese goods and possibly restrict exports to China that use U.S. software. Such actions could have caused serious disruption to the global economy.

The meeting between US President Donald Trump and Chinese President Xi Jinping has concluded. The meeting went on for up to 2 hours. More details are awaited. Stay with us.

As talks between US President Donald Trump and Chinese President Xi Jinping continue, three major topics are expected to take center stage:

Trade Tariffs: Trade tariffs remain one of the most debated issues. Trump has said he might reduce tariffs on Chinese goods if Beijing helps control the export of chemicals used to make fentanyl.

Rare Earths and AI Chips: The US is facing a balancing act here. Tech companies like Nvidia want to keep selling advanced chips to China, but security officials warn that these high-end chips could be used for military purposes. At the same time, China holds a strong position in the rare earth market—it refines about 90% of the world’s critical minerals. This gives Beijing powerful leverage. While the US and its allies are working to cut their dependence on China, experts say it will take time to see results.

TikTok: US Treasury Secretary Scott Bessent recently said that a deal to sell TikTok to an American company could be completed during the Trump-Xi talks. Details of the potential sale are still unclear, but if it happens, it could be viewed as another political and economic win for Trump.

US President Donald Trump met Japanese and South Korean leaders at Tokyo’s grand Akasaka Palace and South Korea’s historic Gyeongju National Museum. But his most important meeting with Chinese leader Xi Jinping is happening at the modest Gimhae International Airport in Busan, away from the main APEC events in Gyeongju.

According to CNN sources, the choice of venue was due to scheduling. Both US and Chinese teams planned the high-profile meeting carefully to ensure privacy and coordination. Originally, Trump was supposed to leave Asia a day earlier, and the meeting with Xi was meant to happen before his departure. However, that would have forced a short evening meeting. So, both sides agreed to hold it the next morning instead, making it more convenient for both leaders.

Seven officials from each country were seen sitting at both side of the table during the Trump-Xi meet. On the US side, President Donald Trump is joined by Secretary of State Marco Rubio, US Trade Representative Jamieson Greer, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Chief of Staff Susie Wiles, and US Ambassador to China David Perdue.

Representing China, President Xi Jinping is accompanied by Chief of Staff Cai Qi, Foreign Minister Wang Yi, Vice Foreign Minister Ma Zhaoxu, Vice Premier He Lifeng, Commerce Minister Wang Wentao, and Zheng Shanjie, who heads the National Development and Reform Commission.

China’s main stock index, the Shanghai Composite, climbed past 4,000 points this week for the first time since 2015. The rise came as investors grew hopeful about the meeting between U.S. President Donald Trump and Chinese President Xi Jinping. The index first crossed the 4,000 mark on Tuesday and continued to rise, reaching 4,021 points after markets opened on Thursday morning local time, as the two leaders met in South Korea.

The rally followed trade talks between U.S. and Chinese officials in Malaysia over the weekend, where both sides reached a basic framework agreement. The news sparked positive reactions across Asian stock markets and boosted U.S. stock futures.

The meeting between Trump and Xi Jinping is now closed to the media. It is expected to continue for 4-5 hours. Stay with us for further updates on live coverage of this high-stakes meet.

Xi told Trump, “You care a lot about world peace, and you’re very enthusiastic about settling various regional hot spot issues.” He mentioned Trump’s role in helping to bring about a ceasefire agreement in Gaza and in brokering peace between Thailand and Cambodia, an accord that Trump witnessed at a ceremony in Malaysia on Sunday. Xi said that China had also worked to mediate between Thailand and Cambodia and had been “promoting peace talks to resolve other hot spot issues.”

He added, “China and the US can jointly shoulder responsibility as major countries and work together to accomplish more great and concrete things for the good of our two countries and the whole world.”

Xi spoke for a longer time, telling Trump that it was “a great pleasure, as well, for me to meet you, and it feels very warm seeing you again”, a report by CNBC said. He said that since the beginning of the year, he and Trump had spoken three times over the phone, exchanged several letters, and “stayed in close contact.” Xi added that under their leadership, “China-U.S. relations have remained stable on the whole.” He also said the basic agreement reached in Malaysia last weekend between the U.S. and Chinese trade teams had “provided the necessary conditions for our meeting today.”

Chinese President Xi Jinping praised Trump for his efforts toward peace, even while noting that China and the United States do not always “see eye to eye”, a CNN report said. “Given our different national conditions, we do not always see eye to eye with each other, and it is normal for the two leading economies of the world to have frictions now and then,” Xi said ahead of his much-anticipated meeting with Trump in South Korea.

Despite these differences, Xi said the two leaders should “stay the right course and ensure the steady sailing forward of the giant ship of China-US relations.” “I always believe that China’s development goes hand in hand with your vision to make America great again,” Xi said.

“Over the years, I have stated in public many times that China and the United States should be partners and friends. This is what history has taught us and what reality need demands.”

Xi also said he valued Trump’s “great contribution to the recent conclusion of the Gaza ceasefire agreement” and his role in witnessing the peace accord between Thailand and Cambodia.