Fragile trade truce as soybeans return, but deeper rifts remain

Fragile Trade Truce

A temporary easing of US-China tensions was achieved at the Busan meeting, but deeper rifts remain.

US President Donald Trump and China's President Xi Jinping met at an airbase in Busan, South Korea. Trump was seen smiling as he grasped Xi's hand, while Xi maintained his usual impassive expression.

Xi's diplomatic poker face has been honed over years of uneasy meetings with American leaders.

Background

The meeting delivered a temporary truce, with soybeans returning, but neither side gave ground on bigger battles over chips, power, and global influence.

Author's summary: US-China tensions eased temporarily.

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Australian Financial Review Australian Financial Review — 2025-10-30