SEOUL: US President Donald Trump announced that Washington could finalize a trade deal with China “pretty soon” following his meeting with Chinese President Xi Jinping in South Korea.

Trump said the dispute over US access to rare earth minerals has been resolved and confirmed that the US would immediately reduce tariffs on Chinese imports.

The announcement comes after a fragile truce in May had scaled back retaliatory tariffs that had exceeded 100% on both sides, although tensions over trade had surged again in recent months.

Correspondents noted that the morning meeting showcased both leaders’ negotiating positions, with Xi appearing to enter the talks with a strong hand.

Analysts also highlighted expectations for a final agreement on the sale of Chinese-owned TikTok’s US operations, which could bring some stability to an otherwise volatile trade rivalry.