Former U.S. President Donald Trump has praised a new trade agreement reached with Chinese President Xi Jinping, calling it a “major victory” for both nations. The deal includes tariff reductions and cooperation on rare earth mineral exports.
The agreement, finalized during talks in Seoul, marks a significant step toward easing years of trade tensions between Washington and Beijing. Both leaders highlighted the importance of mutual economic stability and fair competition.
Under the new framework, China will reportedly increase the supply of rare earth materials vital for U.S. industries, including defense and technology sectors. In return, the U.S. has agreed to ease certain tariffs on Chinese goods.
Economists say this breakthrough could stabilize global supply chains that have been disrupted by ongoing trade disputes. The move is expected to benefit high-tech manufacturing and renewable energy development in both countries.
Trump described the deal as a symbol of “new cooperation” and emphasized that open dialogue with China was key to achieving future economic growth. Xi echoed similar sentiments, stressing shared responsibility for global market balance.
Political analysts believe the agreement could improve diplomatic ties and reshape international trade policies. However, they warn that lasting peace will depend on continued transparency and commitment from both sides.
Also read: Trump Seeks Trade-War Truce with China’s Xi During South Korea Talks
