Trump, Xi Agree to Trade Truce at APEC Summit
U.S. President Donald Trump and Chinese President Xi Jinping have reached a temporary truce in their ongoing trade war. The agreement, made at the APEC summit, pauses tariff hikes and rare earth restrictions. Meanwhile, the summit ended with the 'Gyeongju Declaration', reaffirming the importance of trade.
The truce comes after intense negotiations between the two leaders. Despite U.S. pressure, Korean negotiators maintained their position during the talks. However, the agreement did not resolve the soybean issue, which is a significant concern for South Korea. President Trump returned to Washington, D.C. on November 2 after spending the weekend in Florida.
The U.S.-China trade truce provides a brief respite in the ongoing conflict. While it does not resolve all issues, it signals a willingness to engage in further dialogue. The 'Gyeongju Declaration' serves as a reminder of the importance of trade in the region.
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