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Donald Trump and Xi Jinping agreed to extend a tariff truce, roll back export controls and reduce other trade barriers in a landmark summit on Thursday, potentially stabilizing relations between the world’s biggest economies after months of turmoil. “I guess, on the scale from zero to 10, with 10 being the best, I would say the meeting was at a 12,” Trump told reporters on Air Force One, which he boarded immediately after the meeting with Xi in Busan, South Korea. “You know, just the whole relationship is very, very important. I think it was very good.” Trump expressed optimism that the Chinese would ramp up investments in the US and consider additional extensions delaying implementation of their rare-earth policy. “It’s a one year deal that will, I think, be very routinely extended,” Trump said. rump also said Xi would take concrete steps to reduce the flow of precursor chemicals used to create fentanyl. “I believe he’s going to work very hard to stop the death that’s coming in,” Trump said. US Trade Representative Jamieson Greer, speaking alongside Trump, said the US would “postpone” action under Section 301 related to shipping and ports. Earlier this year, the US announced port service fees on Chinese-owned vessels, with the Chinese retaliating later in the year. China also said it would suspend countermeasures against the US for one year related to shipping. “So that’s no longer an issue,” Trump said. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: / bloombergradio Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts: / bloombergpodcasts Bloomberg Television: / @markets Bloomberg Originals: / bloomberg Quicktake: / @bloombergquicktake