WEBVTT
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The US President back on his way home, wrapping up
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a three country tour of Asia, and he's returning with
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a trade deal between the US and China. His final
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act was meeting with Chinese leader Ji Jimping, as the
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world's largest economies appear to have finally settled a bitter
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trade war. The agreements included a plan to lower some
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of the tariffs on China over fentanyl. They also seem
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to strike a deal for China to buy more soybean
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products from the US.
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We're an agreement on so many elements.
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Large amounts, tremendous amounts of the soybeans and other farm
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products are going to be purchased immediately, starting immediately. If
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I put in twenty percent tariff on China because of
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the event a coming in which you said it's a
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big tariff, and based on the statements today, are reduced
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it by ten percent, so it's ten percent instead of
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twenty percent effective immediately.
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Us on the scale up from zero to ten, with
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ten being the best.
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I would say.
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The meeting was at twelve.
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The President says he's going back to China in April,
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joining me now to discuss as Will Ripley CNN's senior
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International correspondent. Obviously, we just heard from the President on
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Air Force one. They're saying he has a deal. What
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more are you learning about what's been agreed to and
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what kind of difference it'll make in the kind of
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tariff structure as it is right now.
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Yeah, it was certainly a whirlwind from the time President
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Trump wrapped that meeting to Hijinping. They raced essentially to
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the airport, got on Air Force one, took off, and
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then the audio of that gaggo with reporters started coming out,
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and it was all of these major headline making announcements
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that the trade war may be over, that they may
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have finalized a deal. You heard the President talking about
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the soybeans. You heard the President talking about tariffs, and
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the most contentious issue rare earths. China basically controls the
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mining and processing of these components that are used to
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produce the semiconductors that power or all of our most
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advanced tech around the world, and China's had these export
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controls on rare earth. President Trump said that issue has
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been resolved, and within hours of that, China's Commerce Ministry
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also put out a statement saying that they will be
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loosening up the export controls that they put in place
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as a direct result, they say, to US actions in
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this trade war. Here's more of what President Trump said
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on Air Force One.
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I think pretty soon we have not too many major
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stumbling blocks. We have a deal.
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Now.
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Every year will renegotiate the deal, but I think the
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deal will go on for a long time, long beyond
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the year. Will negotiate at the end of the year.
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But all of the rare earth has been settled. There's
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no roadblock at all. What rareer that will hopefully just
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severe from our vocabulary for a little while.
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Obviously, as you know, the devil's in the details, and
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there's probably still a lot that needs to be put
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down on paper, the black and white. The dot convinced
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that all needs to be reviewed. President Trump saying that
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he may be traveling to Beijing in April, which would
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give teams on both sides, both in Washington and Beijing,
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about six months to get the details of this sorted out.
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But it does seem to be welcome news, at least
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on the surface, based on the headlines that President Trump
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has been making with his statements and the bits of
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information that are trickling out of China, but we need
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to follow through and see how this actually all shakes out.
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But it is for just over twenty four hours on
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the ground here in South Korea. Certainly a lot of
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a lot of movement made, not just on trade with China,
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but also trade here in South Korea. Out eve, President
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Trump saying that he has finalized the framework of a
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deal with the South Koreans as well. So a lot
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of a lot of progress made on the ground here.
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We'll see if it all sorts out in the end.
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And CNN's Will Ripley, thank you so much.
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I think we've already agreed to a lot of things,
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and we'll agree to some more right now. But President
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and she is a great leader of a great country,
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and I think we're going to have a fit, fantastic
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relationship for a long period of time.
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Given our different national conditions, we do.
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Not always see eyed eye with each other.
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And it is normal for the two leading economies of
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the world to have frictions now and then.
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Now it seems some of those frictions have been eased.
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On Air Force one, President Trump announced a deal to
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lower tariffs on China over Fentanel. China also agreed to
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lift export controls on rare earth minerals at least for
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one year, while also agreeing to resume purchasing US soybean products. Historically,
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China has been the number one buyer of those exports,
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and this year didn't buy any. Joining the group Chat
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Now to talk about this David Sanger, CNN political and
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national security analysts. He's also the national security correspondent for
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The New York Times. Welcome to the chat, David lead.
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We're bringing you in because you've been doing a lot
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of writing about this, and I want to start with
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the deal, because there's the top line, and then there's like,
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what actually was accomplished other than this deal for soybean
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farmers who were upset, what was actually accomplished here?
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You know?
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I think the best way to think about this audio
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was that the presidents one another cease fire. He created
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a crisis by putting in the tariffs. The Chinese responded
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by cutting off rarers ceasing the purchase of American soybeans,
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which they knew would create huge political pressure. He's basically
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reset the clock to January. But the remarkable thing about
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this was what wasn't in their announcements. When you think
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about what we've just heard in the past few hours,
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and this is the first time these two have met
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in six years, you know, obviously COVID gotten the way
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of a good bit of that. China's got the fastest
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growing nuclear capability, It's got technological competition with US in
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artificial intelligence and semiconduct actors. There's the TikTok issue, there's Taiwan.
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We heard about none of them.
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Yeah, which, by the way, TikTok just because there's a
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lot of creators out there watching this. Who's going to
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control the algorithm if a sale goes through.
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Well, the US, in its previous discussions, you know, a
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few weeks ago, said that over time, the US would
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create its own algorithm based on the TikTok model. But
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we were expecting this deal to be sort of closed
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and the details of how that would work to be announced.
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It didn't happen.
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I have to ask, Mike, I think you were saying
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that this was kind of the whole, the whole Enchilada,
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like that, this this Asian trip was sort of well
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you might have said, egg roll, but I think that's
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we take notes on this show may.
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Not send you notes anymore, But.
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Where the do you see what has been accomplished rather
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than kind of what David is outlining here, how much wasn't.
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Well, Look, I think a couple of things that we
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didn't talk about have been accomplished, the trade deals with
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Japan and South Korea and then the peace deal between
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Cambodia and Thailand, which were I mean basically I think
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all victories for President Trump on that front. The one
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place with David that I might take exception, and this
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is really on the tariffs. Yes, we have ratcheted down
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the FETANL tariffs from twenty to ten percent, but we
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still have an average I think it's forty five percent
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years on China before Trump came in, and when you
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say it was reset to January before he came in,
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it was like two point seven percent. Yeah, So we
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still have this, I you know, can be described as
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a very extreme t tariff regime with China. China imposes
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thirty five percent tariffs on us.
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So I guess we're winning that war, but there still
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is a lot more to go in and your scare
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quotes are doing a lot of work that David was saying,
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which is that this is a problem of his own making,
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like this is not where we are is in.
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Part because of wells own tariff REGIMEA.
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Yeah, it's money.
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I'm not suggesting that any of that is small or
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you know, not critical to the relationship. What I am
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saying is, isn't it astounding that they met for only
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an hour and forty minutes when we're talking about the
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world's two largest economies, two biggest technological competitors. I mean,
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even with the failed meeting with Putin, it went on
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for three hours before they left lunch on the table
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and walked out the door. So you know, when I
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think about the last big meeting that Xi Jinping had
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with Joe Biden, which was in San Francisco on the
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edges of another summit, they basically kept at it all day.
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Yeah.
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And the fact that they did not have enough prepared
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here to be able to go do that, I think
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is telling.
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It's telling. It's also telling about the relationship and Trump's
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ability to draw China into his usual diplomatic theatrics.
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The US President back on his way home, wrapping up
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a three country tour of Asia, and he's returning with
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a trade deal between the US and China. His final
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act was meeting with Chinese leader Ji Jimping, as the
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world's largest economies appear to have finally settled a bitter
6
00:00:17.559 --> 00:00:21.199
trade war. The agreements included a plan to lower some
7
00:00:21.280 --> 00:00:24.640
of the tariffs on China over fentanyl. They also seem
8
00:00:24.679 --> 00:00:27.199
to strike a deal for China to buy more soybean
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00:00:27.239 --> 00:00:28.399
products from the US.
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We're an agreement on so many elements.
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Large amounts, tremendous amounts of the soybeans and other farm
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products are going to be purchased immediately, starting immediately. If
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I put in twenty percent tariff on China because of
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the event a coming in which you said it's a
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big tariff, and based on the statements today, are reduced
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it by ten percent, so it's ten percent instead of
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twenty percent effective immediately.
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Us on the scale up from zero to ten, with
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ten being the best.
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I would say.
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The meeting was at twelve.
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The President says he's going back to China in April,
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joining me now to discuss as Will Ripley CNN's senior
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International correspondent. Obviously, we just heard from the President on
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Air Force one. They're saying he has a deal. What
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more are you learning about what's been agreed to and
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what kind of difference it'll make in the kind of
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tariff structure as it is right now.
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Yeah, it was certainly a whirlwind from the time President
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Trump wrapped that meeting to Hijinping. They raced essentially to
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the airport, got on Air Force one, took off, and
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then the audio of that gaggo with reporters started coming out,
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and it was all of these major headline making announcements
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that the trade war may be over, that they may
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have finalized a deal. You heard the President talking about
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the soybeans. You heard the President talking about tariffs, and
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the most contentious issue rare earths. China basically controls the
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mining and processing of these components that are used to
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produce the semiconductors that power or all of our most
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advanced tech around the world, and China's had these export
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controls on rare earth. President Trump said that issue has
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been resolved, and within hours of that, China's Commerce Ministry
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also put out a statement saying that they will be
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loosening up the export controls that they put in place
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as a direct result, they say, to US actions in
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this trade war. Here's more of what President Trump said
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on Air Force One.
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I think pretty soon we have not too many major
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stumbling blocks. We have a deal.
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Now.
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Every year will renegotiate the deal, but I think the
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deal will go on for a long time, long beyond
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the year. Will negotiate at the end of the year.
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But all of the rare earth has been settled. There's
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no roadblock at all. What rareer that will hopefully just
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severe from our vocabulary for a little while.
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Obviously, as you know, the devil's in the details, and
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there's probably still a lot that needs to be put
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down on paper, the black and white. The dot convinced
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that all needs to be reviewed. President Trump saying that
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he may be traveling to Beijing in April, which would
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give teams on both sides, both in Washington and Beijing,
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about six months to get the details of this sorted out.
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But it does seem to be welcome news, at least
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on the surface, based on the headlines that President Trump
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has been making with his statements and the bits of
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information that are trickling out of China, but we need
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to follow through and see how this actually all shakes out.
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But it is for just over twenty four hours on
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the ground here in South Korea. Certainly a lot of
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a lot of movement made, not just on trade with China,
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but also trade here in South Korea. Out eve, President
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Trump saying that he has finalized the framework of a
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deal with the South Koreans as well. So a lot
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of a lot of progress made on the ground here.
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We'll see if it all sorts out in the end.
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And CNN's Will Ripley, thank you so much.
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I think we've already agreed to a lot of things,
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and we'll agree to some more right now. But President
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and she is a great leader of a great country,
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and I think we're going to have a fit, fantastic
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relationship for a long period of time.
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Given our different national conditions, we do.
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Not always see eyed eye with each other.
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And it is normal for the two leading economies of
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the world to have frictions now and then.
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Now it seems some of those frictions have been eased.
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On Air Force one, President Trump announced a deal to
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lower tariffs on China over Fentanel. China also agreed to
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lift export controls on rare earth minerals at least for
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one year, while also agreeing to resume purchasing US soybean products. Historically,
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China has been the number one buyer of those exports,
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and this year didn't buy any. Joining the group Chat
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Now to talk about this David Sanger, CNN political and
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national security analysts. He's also the national security correspondent for
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The New York Times. Welcome to the chat, David lead.
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We're bringing you in because you've been doing a lot
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of writing about this, and I want to start with
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the deal, because there's the top line, and then there's like,
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what actually was accomplished other than this deal for soybean
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farmers who were upset, what was actually accomplished here?
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You know?
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I think the best way to think about this audio
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was that the presidents one another cease fire. He created
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a crisis by putting in the tariffs. The Chinese responded
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by cutting off rarers ceasing the purchase of American soybeans,
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which they knew would create huge political pressure. He's basically
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reset the clock to January. But the remarkable thing about
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this was what wasn't in their announcements. When you think
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about what we've just heard in the past few hours,
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and this is the first time these two have met
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in six years, you know, obviously COVID gotten the way
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of a good bit of that. China's got the fastest
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growing nuclear capability, It's got technological competition with US in
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artificial intelligence and semiconduct actors. There's the TikTok issue, there's Taiwan.
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We heard about none of them.
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Yeah, which, by the way, TikTok just because there's a
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lot of creators out there watching this. Who's going to
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control the algorithm if a sale goes through.
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Well, the US, in its previous discussions, you know, a
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few weeks ago, said that over time, the US would
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create its own algorithm based on the TikTok model. But
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we were expecting this deal to be sort of closed
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and the details of how that would work to be announced.
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It didn't happen.
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I have to ask, Mike, I think you were saying
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that this was kind of the whole, the whole Enchilada,
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like that, this this Asian trip was sort of well
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you might have said, egg roll, but I think that's
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we take notes on this show may.
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Not send you notes anymore, But.
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Where the do you see what has been accomplished rather
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than kind of what David is outlining here, how much wasn't.
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Well, Look, I think a couple of things that we
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didn't talk about have been accomplished, the trade deals with
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Japan and South Korea and then the peace deal between
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Cambodia and Thailand, which were I mean basically I think
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all victories for President Trump on that front. The one
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place with David that I might take exception, and this
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is really on the tariffs. Yes, we have ratcheted down
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the FETANL tariffs from twenty to ten percent, but we
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still have an average I think it's forty five percent
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years on China before Trump came in, and when you
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say it was reset to January before he came in,
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it was like two point seven percent. Yeah, So we
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still have this, I you know, can be described as
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a very extreme t tariff regime with China. China imposes
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thirty five percent tariffs on us.
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So I guess we're winning that war, but there still
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is a lot more to go in and your scare
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quotes are doing a lot of work that David was saying,
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which is that this is a problem of his own making,
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like this is not where we are is in.
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Part because of wells own tariff REGIMEA.
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Yeah, it's money.
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I'm not suggesting that any of that is small or
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you know, not critical to the relationship. What I am
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saying is, isn't it astounding that they met for only
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an hour and forty minutes when we're talking about the
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world's two largest economies, two biggest technological competitors. I mean,
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even with the failed meeting with Putin, it went on
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for three hours before they left lunch on the table
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and walked out the door. So you know, when I
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think about the last big meeting that Xi Jinping had
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with Joe Biden, which was in San Francisco on the
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edges of another summit, they basically kept at it all day.
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Yeah.
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And the fact that they did not have enough prepared
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here to be able to go do that, I think
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is telling.
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It's telling. It's also telling about the relationship and Trump's
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ability to draw China into his usual diplomatic theatrics.
