Trump, Xi end talks with no trade deal, tariffs remain 

US President Donald Trump has described his meeting with Chinese President Xi Jinping as “amazing”, even though both leaders failed to reach a formal trade agreement.

The meeting, which took place on Thursday, was the first face-to-face encounter between the two leaders in six years. It comes amid rising hopes of easing tensions between the world’s two largest economies, following years of trade battles and tariff disputes.

While Trump was upbeat about the discussions, Beijing gave a more cautious response, saying the two sides had reached a “consensus” to resolve major trade issues.

Trump’s trade war with China had triggered a series of tit-for-tat tariffs that pushed import duties to more than 100 percent on both sides. Although both countries agreed to a truce in May, the tariffs have largely remained in place.

Thursday’s meeting did not produce a formal deal, but both sides hinted they were closer to an agreement after months of behind-the-scenes talks. Trade deals often take years to finalise, and the current discussions are seen as a step toward that direction.

One key outcome for Trump is China’s decision to suspend export controls on rare earth materials — vital components used in products such as smartphones, electric cars, and fighter jets.

The US president also announced that China would resume purchasing “tremendous amounts of soybeans and other farm products”, a move that could bring relief to American farmers affected by China’s retaliatory tariffs.

However, there was no progress on the long-running dispute over TikTok. The US has been pushing to separate the app’s American operations from its Chinese parent company, ByteDance, citing national security concerns. Beijing said talks on the issue would continue.

Washington also confirmed it would reduce some tariffs linked to the flow of chemicals used in producing fentanyl — a synthetic drug blamed for the ongoing opioid crisis in the US. But other import taxes will remain in place, meaning goods from China are still being taxed at over 40 percent.

In a sign of improving relations, Trump said Beijing had invited him to visit China in April. He also revealed that China would open discussions with Nvidia CEO Jensen Huang, whose company sits at the centre of the US-China battle over AI chips.

Despite the friendly tone, analysts say there are still wide gaps between the two leaders’ approaches. Xi appeared calm and deliberate, saying both sides would work on “reassuring” their economies. Trump, by contrast, was more expressive, calling the talks “a good start” but showing visible tension given the high stakes.

Henry Wang, a former adviser to China’s State Council, said the meeting went “very well” and that both sides had “laid a framework and structure” for future negotiations.