US President Donald Trump and Chinese leader Xi Jinping held a high-stakes meeting to finalize a trade agreement, amidst ongoing tensions and a tit-for-tat tariff war. Officials had previously indicated a consensus was reached, with hopes for a reduction in retaliatory measures.

• The meeting took place for one hour and forty minutes at the Gimhae air base in Busan, South Korea.
• Initial tariffs on Chinese goods reached up to 145% from the US and 125% from China.
• A key agenda item was the potential finalization of the sale of TikTok's US operations.
• The US and China are also embroiled in a battle over critical minerals (rare earths) and advanced semiconductors.
• China recently tightened controls over rare earth exports, while purchasing US soybeans ahead of the talks.