China says it has reached a «consensus» with the United States on key economic issues after talks between Xi Jinping and Donald Trump. The Chinese Foreign Ministry said both sides discussed TikTok, tariffs and rare earths, and agreed on next steps. It gave few details.
Xi urged both teams to finish follow-up work soon and turn the consensus into «tangible results» for China, the US and the global economy. He said ties have seen «twists and turns» and called on Washington to focus on long-term gains from cooperation, not a cycle of retaliation. Xi also highlighted China’s growth of 5.2% in the first three quarters, saying Beijing can handle risks and challenges.
China said the US made positive commitments on investment and that Beijing will address TikTok issues. US Treasury Secretary Scott Bessent said both sides have a «final agreement on TikTok» that now needs the leaders’ approval. It is not clear if TikTok will continue to operate in the US under the deal.
On tariffs, China’s Commerce Ministry said it will make «appropriate adjustments» after the US moved to cut overall tariffs on Chinese goods from 57% to 47%. Trump tied the 10-point cut to Chinese action on fentanyl and progress on soybeans and rare earths. Both sides will also extend some tariff exclusions.
On rare earths, China said it will suspend its latest export controls for one year. In return, the US will pause for one year new rules that target subsidiaries of restricted firms. Both countries will also suspend special port fees on each other’s ships for one year.
Trump said he looks forward to visiting China early next year and invited Xi to the US. He later said he plans to go to Beijing in April.
