In a landmark diplomatic breakthrough, US President Donald J. Trump and Chinese President Xi Jinping have struck a comprehensive economic and trade agreement during high-level talks in Seoul, Republic of Korea. The deal, announced late Friday, is being hailed by the White House as a “massive victory” for American workers, farmers, and national security.
The agreement aims to curb the flow of deadly fentanyl precursors, ease China’s grip on critical minerals, and reopen lucrative agricultural exports — potentially preventing a deeper US-China economic standoff. “This historic agreement puts American families first, rebalancing trade while safeguarding our economic strength,” said a White House statement.
Under the deal, Beijing has pledged to halt shipments of fentanyl precursors to North America, lift export curbs on rare earth minerals such as gallium and graphite, and suspend retaliatory tariffs on key US farm products including soybeans, corn, and beef. China will also resume large-scale agricultural imports, committing to purchase at least 12 million metric tons of US soybeans by the end of 2025 and 25 million tons annually through 2028.
In return, Washington will ease certain tariffs on Chinese goods, including a 10% reduction on imports linked to fentanyl flows, while suspending new trade restrictions until late 2026. The US will also pause the implementation of end-user controls on Chinese affiliates and continue trilateral cooperation with Japan and South Korea to revive shipbuilding and maritime industries.
The Seoul announcement capped Trump’s week-long Asia tour, which included fresh trade frameworks with Malaysia, Thailand, and Vietnam, and a major minerals deal with Japan. The White House described the tour as “a series of historic wins” that reassert US economic leadership across the Indo-Pacific.
Analysts say the agreement could help stabilize global markets and thaw strained US-China relations, though skepticism remains over China’s long-term compliance and the durability of tariff suspensions heading into the 2026 election cycle.
