‘China trip not too distant': Trump to soon meet Xi Jinping as trade tensions ease
The remarks by Trump were made as he was hosting Philippine President Ferdinand Marcos Jr. at the White House, where the US president praised a 'fantastic military relationship' with Manila as the United States is looking to counter the Chinese influence in the Indo-Pacific region.
Trump said, 'The US is getting along with China very well. We have a very good relationship,' adding that Beijing has resumed the exports of rare-earth magnets to the US in 'record numbers' which are majorly used in iPhones and other high-tech products like electric vehicles.
'President Ferdinand Marcos, of the Philippines, is just leaving the White House, with all of his many Representatives. It was a beautiful visit, and we concluded our Trade Deal…' – President Donald J. Trump 🇺🇸🇵🇭 pic.twitter.com/Lt2q4AiONB
— The White House (@WhiteHouse) July 22, 2025
Since Trump returned to the White House in January, there were speculations about a possible meeting with Jinping as it would lead to stabilization, even if for a short period of time, a difficult relationship which is generally marked by trust deficit and competition. Beijing also believes that a leader-level summit is required to steady the relations between US and China.
Trump's campaign to impose reciprocal tariffs on almost all its trading partners across the world triggered a trade war with China. Trump imposed a 145% tariff on Chinese goods, and in retaliation, China also increased tariffs on US goods to 125%.
Both the countries also imposed hard trade restrictions on certain items, like China introduced trade restrictions on rare earths, while the US imposed restrictions on computing chips and jet engine technology.
Treasury Secretary Scott Bessent on Tuesday told Fox Business that he is scheduled to meet his Chinese counterparts in Stockholm next week to work on 'what is likely an extension' of the August 12 deadline. 'I think trade is in a very good place with China,' Bessent said.
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