Trump hosts Xi Jinping for trade talks amid commodity market focus

Xi Jinping is heading to the White House on September 24 for his first visit to Washington in roughly a decade, and the agenda includes soybeans, rare earths, energy tariffs, and a $30 billion reciprocal tariff reduction framework as the two largest economies try to keep their fragile trade truce from falling apart. The summit marks the second in-person meeting between Trump and Xi this year, following Trump’s trip to Beijing in May. This meeting arrives with a hard deadline: a tariff truce set to expire on November 10. The truce that needs extending The current tariff ceasefire traces back to an October 2025 meeting in Busan, South Korea, where both sides agreed to pause escalations in hopes of negotiating something more permanent. A proposed framework for $30 billion in reciprocal tariff reductions is reportedly part of the discussions. Trump plans to personally welcome Xi at Andrews Air Force Base, a diplomatic gesture typically reserved for close allies. Agriculture takes center stage China committed during the Busan agreement to purchasing 25 million metric tons of US soybeans annually through 2028. Trump’s May 2026 visit to Beijing yielded an additional pledge of $17 billion ...