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G2 Summit 2025
November 9 , 2025
17 hrs 0 min
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- Chinese President Xi Jinping and United States President Donald Trump met in Busan, South Korea for the G2 Summit.
- Both leaders agreed to de-escalate the trade war and strengthen strategic stability between the two countries.
- The United States agreed to cut tariffs on Chinese goods, including those on fentanyl, from 20% to 10%.
- China agreed to resume large-scale purchases of American soybeans and to remove export restrictions on rare earth minerals.
- A White House fact sheet stated that China would issue general export licences for rare earths, gallium, germanium, antimony, and graphite.
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