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With presidents Donald Trump and Xi Jinping set to meet Thursday in Busan, the United States and China signaled progress but not a grand bargain. Officials touted a preliminary consensus and a “very successful framework,” while a threatened 100% tariff was said to be effectively off the table. Talks touch rare-earth curbs that Beijing may delay, potential Chinese purchases of U.S. soybeans, export controls that Washington says remain unchanged, and steps against fentanyl precursors. Analysts warn structural rifts persist, suggesting only tactical fixes to calm markets for now.

Prepared by Christopher Adams and reviewed by editorial team.