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US President Donald Trump and China's Xi Jinping appear to have reached an agreement on several issues, with the US agreeing to lower tariffs and both countries committing to combating illegal fentanyl.
More specifically, the two Presidents' meeting resulted in a one-year pact that will be extended regularly. "We have a deal," Trump told reporters.
Also, tariffs on China will be reduced from 57% to 47%, while the rare earth metals issue has been resolved, Trump claimed.
US President to visit China in April, Xi to visit US "sometime after that"
Trump told reporters on Air Force One that he had agreed to lower US tariffs on Chinese goods to 47% in exchange for Beijing resuming US soybean purchases, maintaining exports of rare earth metals and cracking down on the illegal trade in fentanyl.
His comments marked the finale of a whirlwind trip to Asia, in which he also hailed trade advances with South Korea, Japan and Southeast Asian countries.
"I thought it was a great meeting," Trump told reporters.
Trump had repeatedly spoken about the possibility of reaching a deal with Xi since US negotiators said on Sunday they had agreed to a framework with China that would avoid 100% US tariffs on Chinese goods and achieve a postponement of China's export restrictions on rare earth metals.
Taiwan was not touched upon in the talks.
Asked if he and Xi discussed Taiwan, Trump replied: "It was never discussed. Taiwan was never discussed."
China considers self-ruled Taiwan to be its territory, but Taiwan's government rejects Beijing's claims to sovereignty.
For decades, Taiwan has enjoyed strong, albeit unofficial, support from the United States, which, despite the lack of formal diplomatic ties, is legally obligated to provide the island with the means to defend itself.
Over the weekend, a group of Chinese H-6K aircraft flew near self-ruled Taiwan to practice "confrontation drills."
Trump also said he and Xi would work together on Ukraine.
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