The 100-minute meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the Gimhae Air Base in Busan on October 30, 2025, marked a significant turning point in bilateral relations after years of escalating trade tensions. This was the first in-person encounter since President Trump’s return to the White House and was widely perceived by international observers as a “temporary truce,” rather than a “comprehensive reconstruction” of the structural dynamics in U.S.–China relations.
Progress Achieved: The summit yielded several key agreements aimed at stabilizing the bilateral relationship:
- The United States agreed to reduce average tariffs on Chinese imports from 57% to 47%, including lowering the fentanyl-related tariff from 20% to 10%.
- China commits to purchasing U.S. Agricultural products and maintaining the supply of rare earth elements: China agreed to purchase a substantial volume of soybeans and other agricultural commodities from the United States—a politically significant concession aimed at addressing the concerns of the U.S. rural electorate. In parallel, Beijing also consented to a one-year suspension of its export restrictions on rare earth elements, a move expected to ease pressures on strategic supply chains and contribute to stabilizing global market dynamics.
- Both sides agreed to cooperate on countering fentanyl and to maintain regular dialogue: The two countries reached a consensus to strengthen cooperation in controlling fentanyl precursors—key chemical substances linked to the opioid crisis in the United States, which has resulted in widespread addiction and public health challenges. Beyond trade-related issues, both sides also discussed collaboration in the fields of energy and people-to-people exchanges, with a shared commitment to sustaining regular high-level dialogues between senior officials to promote stability and mutual understanding in bilateral relations.
- Both sides agreed to establish a roadmap for leader-level exchanges: President Trump confirmed his planned visit to China in April 2026 and extended an invitation for President Xi to visit the United States thereafter, signaling a mutual willingness to institutionalize leader-level exchanges.
Remaining shortfalls: Despite modest political and trade progress achieved during the Busan summit, the meeting fell short of producing any strategic breakthroughs in U.S.–China relations. Notably, the Taiwan issue—long considered the cornerstone of China’s “One China” policy—was conspicuously absent from the agenda. Likewise, disputes over semiconductor export controls, industrial policy, technology transfer, and market access remained unresolved and continue to represent entrenched points of friction.
Experts have described the Busan outcome as a one-year provisional arrangement that could be renegotiated depending on domestic political developments in the United States. According to Associate Professor Dylan Loh of Nanyang Technological University, the Busan meeting addressed several contentious issues, both old and new, creating space for stabilizing bilateral ties. However, he cautioned that “U.S.–China competition will not end with a single meeting.” Similarly, Professor Sun Chenghao of Tsinghua University’s Center for International Security and Strategy noted that the summit successfully de-escalated tensions and generated positive momentum, yet warned that deeper structural challenges—including technology controls, industrial strategies, and strategic mistrust—remain unresolved. Han Shen Lin, Managing Director at The Asia Group, assessed the Busan agreement as a “conditional ceasefire,” contingent upon China’s compliance with fentanyl commitments and the United States’ adherence to tariff reductions. While frictions may persist, he emphasized that “renewed dialogue between the two leaders is far preferable to an uncontrolled trade war.”
In general, the 2025 U.S.–China Summit in Busan and its preliminary outcomes represent a necessary tactical concession by both great powers amid global uncertainty. The agreement provides a temporary respite in an otherwise tense relationship, helping to mitigate negative spillover effects on global economic growth. Nevertheless, the progress achieved remains fragile, as the underlying nature of U.S.–China relations continues to reflect a long-term strategic competition—one defined by volatility and enduring rivalry.
Edited and translated by NLRead the original article in Vietnamese here
