The meeting between US President Donald Trump and his Chinese counterpart, Xi Jinping, resulted in a trade agreement between the US and China.

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

Tariff Agreement

President Trump also said the two leaders will work together on Ukraine, while tariffs on China are being reduced from 57% to 47%.

Specifically for fentanyl, the American president said he would reduce tariffs to 10% from 20%.

At the same time, a US official accompanying President Trump said that China will keep the flow of rare earth exports active and buy US soybeans.

Trump said the Taiwan issue did not come up in talks with President Xi.

On a scale of 1 to 10, President Trump gave his meeting with President Xi a 12.

In China in April

The American president said after the meeting that he will visit China in April, and after this visit, there will be a visit by President Xi to the US.

Donald Trump said he did not discuss chipmaker Nvidia’s cutting-edge artificial intelligence chip Blackwell during his talks with Chinese President Xi Jinping.

He retracted statements he had made the day before about possibly helping the company export a scaled-down version of its current flagship GPU, a key component in the artificial intelligence race.

But Nvidia’s hopes of getting approval from the United States and China to sell a version of its most powerful artificial intelligence chip were hit by Trump’s remarks on Thursday.

“We’re not talking about Blackwell chips,” Trump told reporters on Air Force One after his meeting with Xi, his first since returning to the White House.

During his trip to South Korea on Wednesday, he said he might discuss the chip with the Chinese leader.

The Chinese delegation has yet to give details about the content of the talks. Xi will remain in South Korea to attend the main APEC leaders’ summit.

Willing to meet Kim Jong Un

In addition, Donald Trump noted that he was unable to meet with North Korean leader Kim Jong Un during his visit to South Korea due to time constraints, but is willing to return to the region to meet with him.

Order to test nuclear weapons

US President Donald Trump also announced that he had ordered nuclear weapons tests to begin, breaking a 30-year hiatus since the US last tested a nuclear weapon in 1992.

Ahead of his meeting with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in the South Korean city of Busan, Trump justified his decision, claiming that he “had no other choice” after discovering that other powers (Russia) had recently tested weapons capable of carrying nuclear warheads.

“The United States has more nuclear weapons than any other country. This was achieved, along with the modernization of existing weapons systems, during my first term (in the White House),” President Trump said in a post on the Truth Social platform, adding that Russia currently has the second largest nuclear arsenal in the world and China the third, but they may increase it to similar levels in the next five years.

What does the Xi side say?

According to Chinese state media, the two sides held interesting discussions and reached an understanding to resolve the issues.

Chinese President Xi said China and the US would focus on long-term benefits of cooperation instead of indulging in a perpetual cycle of retaliation, Reuters noted.

Furthermore, he added that at no time has China tried to replace or challenge anyone.

Xi said there will also be cooperation in energy and trade, and the two countries have good prospects to fight telecom fraud and money laundering.

The Chinese president noted that there are prospects for cooperation between the two countries in the field of artificial intelligence as well.