Trump and Xi discuss trade deals, farm goods, and chip controls

President Donald Trump and Chinese President Xi Jinping have held talks that touched on several trade issues. Trump urged Xi to allow U.S. access to China's payments market, and the U.S. expects China to commit billions of dollars for American farm goods. U.S. Trade Representative Jamieson Greer said chip export controls were not a major topic in the discussions, but noted that China still sometimes drags its feet on rare earths exports.

Separately, Stellantis and Dongfeng announced a $1.2 billion deal to manufacture Jeeps and Peugeots in China. Greer also told Bloomberg News that China wants the Strait of Hormuz to remain open without restrictions. Trump described the trade agreements as "fantastic" and said they are excellent for both countries.