US President Donald Trump claims progress on trade agreements with China, easing tensions amid ongoing economic disputes.
US President Donald Trump stated he secured “fantastic trade deals” with Chinese President Xi Jinping during his visit to Beijing on January 20, 2025. The announcement follows years of trade tensions, including tariffs and retaliatory measures between the two nations.
The US-China trade war began in 2018, marked by tariffs on goods like automobiles and soybeans. A Phase One trade deal in January 2020 aimed to restore stability but was overshadowed by the COVID-19 pandemic. Markets have closely monitored negotiations for signs of de-escalation.
The AUD/USD pair declined 0.41% to 0.7190 following the remarks, reflecting cautious market sentiment.