OAN Staff Blake Wolf
8:20 AM – Thursday, October 30, 2025
President Donald Trump announced the results of his recent meeting with Chinese President Xi Jinping, in which Beijing agreed to help “end the Fentanyl Crisis,” purchase American oil and gas, and continue the flow of rare earth minerals, while also mutually agreeing to roll back steep tariffs.
President Trump’s Thursday meeting followed a weeklong trip to numerous countries in Asia, resulting in trade deals with Cambodia, Thailand, Malaysia, and Vietnam. In the deals, the president was able to get Asian nations to drop most, if not all, tariffs on U.S. goods while also securing agreements to acquire critical minerals to reduce reliance on China.
Following the meeting with Xi and his business associates on Thursday, President Trump issued a Truth Social post, notifying the American people of the agreements the two reached.
“I had a truly great meeting with President Xi of China. There is enormous respect between our two Countries, and that will only be enhanced with what just took place. We agreed on many things, with others, even of high importance, being very close to resolved,” the president began.
“I was extremely honored by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products. Our farmers will be very happy! In fact, as I said once before during my first Administration, Farmers should immediately go out and buy more land and larger tractors. I would like to thank President Xi for this!”
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“Additionally, China has agreed to continue the flow of Rare Earth, Critical Minerals, Magnets, etc., openly and freely. Very significantly, China has strongly stated that they will work diligently with us to stop the flow of Fentanyl into our Country. They will help us end the Fentanyl Crisis,” he continued.
China’s move to reopen the export of rare earth and critical minerals follows Beijing’s decision to introduce restrictions earlier this year as a bargaining chip in the trade war with the United States due to the U.S.’s prior reliance on China to supply critical materials used in everything from the U.S. Defense industry to electric vehicles and planes.
“China also agreed that they will begin the process of purchasing American Energy. In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to see if such an Energy Deal can be worked out. The agreements reached today will deliver Prosperity and Security to millions of Americans,” Trump noted.
The president concluded his post by noting that his trade deals are resulting in “Hundreds of Billions of Dollars [being] brought into our Country because of them. Our Nation is Strong, Respected, and Admired Again, and THE BEST IS YET TO COME!”
Additionally, President Trump and Xi made headway on tariffs, as the president agreed to drop tariffs on Chinese imports from around 55%, down to around 45%.
President Trump described the current deal as a one-year arrangement that is set to be revisited next year.
“We have a deal,” Trump stated. “Every year we’ll renegotiate the deal, but I think it’ll go on for a long time.”
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