Following what President Trump described as an “amazing” meeting, Chinese President Xi Jinping called for “genuine multilateralism” in an address to the APEC forum in South Korea.
Xi’s speech in Gyeongju on Friday focused on economic cooperation, warning against “breaking supply chains.” He urged nations to “adhere to the principle of joining hands rather than letting go.”
The positive tone was set by a new one-year trade deal struck by the two leaders. The pact includes the US slashing some tariffs and export controls, a major step in easing trade tensions.
In return, China agreed to buy US soybeans and, critically, to pause any new curbs on its rare earth exports. This concession defused a major conflict, as Trump had threatened a 100% import tax.
The deal also includes a one-year US delay on a restrictive tech measure. Xi praised the return to dialogue, saying it was “always better than confrontation” and would bring “peace of mind” to the world.
