TrumpXi meeting to address fentanyl, TikTok deal and rare earth. What to know. Joey Garrison, USA TODAY October 30, 2025 at 12:01 AM 0 WASHINGTON ‒ President Donald Trump heads into a highstakes meeting with Chinese President Xi Jinping on Oct.
- - Trump-Xi meeting to address fentanyl, TikTok deal and rare earth. What to know.
Joey Garrison, USA TODAY October 30, 2025 at 12:01 AM
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WASHINGTON ‒ President Donald Trump heads into a high-stakes meeting with Chinese President Xi Jinping on Oct. 30 seeking to finalize a trade deal that investors and American soybean farmers hope ease tensions between the world's two largest superpowers.
The meeting between Trump and Xi in Gyeongju, South Korea ‒ capping the U.S. president's five-day trip to Asia ‒ comes as the two sides have zeroed in on a framework that would hold off export control on rare earth minerals that China floated and new 100% tariffs Trump threatened on Chinese imports in retaliation.
Trump, aboard Air Force One on his way to South Korea from Japan, told reporters the U.S. and China "haven't talked about the timing yet" regarding China's delay of export controls. "But we're going to work out something. We're doing very well with rare earth, as you know," Trump said.
While a 29-day federal government shutdown continues with no end in sight back home, Trump needs to demonstrate a win on the China front to defend leaving the country during the chaos.
Rare earth, soybeans and fentanyl at center of talks
Trump's economic officials have hinted of an imminent deal with China to address concerns of American soybean farmers who are on edge as a result of a Chinese boycott on U.S. soybeans amid the trade war. "The soybean farmers are going to be extremely happy with this deal for this year and for the coming years," Treasury Secretary Scott Bessent told CBS' "Face the Nation" on Oct. 26.
China's state-owned COFCO bought three U.S. soybean cargoes ahead of the talks, Reuters reported, the country's first purchases from this year's U.S. harvest, and a move widely seen as a goodwill gesture ahead of the talks.
More: Donald Trump says trade deal with South Korea is 'pretty much finalized'
FILE PHOTO: U.S. President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque/File Photo
Another area of contention is fentanyl, the opioid drug that Trump has accused the Chinese of producing and importing illegally into the United States. The United States has a 20% tariff on Chinese imports tied to the fentanyl dispute, but Trump told reporters he expects the rate to be lowered following his meeting with Xi.
"I expect to be lowering that because I believe they're going to help us with the fentanyl situation," Trump said. "They're going to be doing what they can do."
More: Trump heads to Asia aiming for trade deal with China. Could farmers lose a key customer?
The highly anticipated meeting will be the first time Trump and Xi have met in person since 2019 during Trump's first term. It follows a six-month trade battle between the two nations marked by warnings of triple-digit tariffs on the other.
Trump threatened the 100% duties on Chinese imports ‒ which would bring China's total tariff rate to 130% ‒ on Oct. 11 after learning of new measures China was pursuing to prevent valuable rare earth minerals used in electronics from going to other nations.
Trump initially suggested he might pull out of the meeting because of the proposed export controls, but he quickly changed his mind after top officials from both countries renewed communications.
President Donald Trump speaks during a meeting with South Korean President Lee Jae Myung (not pictured) on the sidelines of the Asia-Pacific Economic Cooperation (APEC) leaders' summit in Gyeongju, South Korea, October 29, 2025.TikTok deal and Taiwan
During their meeting, Trump and Xi are expected to formalize a U.S.-China agreement on the sale of China-based TikTok's U.S. operations to an American-based investor group, allowing the popular video app to continue functioning in the United States. The transaction includes TikTok's algorithm moving under the control of the new U.S. venture.
Bessent told "Face the Nation" that Trump and Xi will "consummate that transaction, including the algorithm transfer, with agreement in South Korea. "I believe that as of today, all the details are ironed out," Bessent said.
Trump signed an executive order on Sept. 25 to advance the deal, which still needs to clear regulatory hurdles in the United States before the new American venture, valued at $14 billion, begins operations.
The TikTok logo is displayed on signage outside TikTok social media app company offices in Culver City, California on September 30, 2025.
More: President Trump signs off on TikTok deal that values US app at $14 billion
While Trump is focused foremost on trade with the meeting, Xi is expected to press Trump on Taiwan, a democratically governed island off the Chinese coast that Beijing views as its own territory.
For decades, U.S. presidents have adhered to an ambiguous "One China policy" that recognizes the People's Republic of China as the sole legal government of China while maintaining unofficial diplomatic relations with Taiwan.
Xi supports the "reunification" of Taiwan and China under a "one country, two systems" model. Ahead of the talks, a spokesperson for the Chinese government said it "absolutely will not" rule out using force over Taiwan.
Xi could use the meeting to seek a declaration from Trump opposing Taiwan independence, administration officials anticipate, according to a report from NBC News. Trump, however, dismissed the topic when asked whether he believes Xi will pressure him over Taiwan.
"I don't know that we will even speak about Taiwan," Trump said. "There's not too much to ask about. Taiwan is Taiwan."
Contributing: Reuters
Reach Joey Garrison on X @joeygarrison
This article originally appeared on USA TODAY: Trump-Xi's high stakes meeting will cover TikTok deal to soybeans
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