Recently, the presidents of the two major countries finally held a face-to-face meeting after nearly two years, prompting a detailed analysis for everyone.

During the Asia-Pacific Economic Cooperation (APEC) summit yesterday, Trump and Xi Jinping engaged in a direct discussion lasting approximately 1 hour and 40 minutes.

The core agreements reached during the talks include: China agreeing to temporarily suspend export restrictions on rare earths and critical minerals for one year.
The United States committed to resuming large-scale purchases of American agricultural products from China, such as soybeans and alfalfa, as a concession.

Additionally, both sides proposed a new interaction framework, including subsequent negotiations on rare minerals, precursor chemicals for pharmaceuticals, agricultural trade, semiconductors, and export controls.
It is noteworthy that the talks did not involve direct negotiations or public commitments regarding Taiwan.

Following the meeting, markets and media responded quickly:
U.S. exports of agricultural products to China showed signs of recovery, such as a batch of U.S. sorghum being shipped to China—this was the first clear trade movement after the talks.

Chinese officials announced that starting November 10, they would revoke retaliatory tariffs on some American agricultural products.
Although the bilateral relationship appears to have entered a so-called "temporary thaw," analysts point out that this is merely a "ceasefire agreement" rather than a comprehensive peace treaty, and fundamental contradictions remain.

In summary: this Xi-Trump meeting is not a turning point but a pause to delay conflict. Both sides are pursuing their interests—America gains space for agricultural exports and technological negotiations, while China secures an extension on export restrictions and reopens trade markets.
While it seems like a thaw, the truly contentious issues—such as high-end chip controls, technological hegemony, and supply chain restructuring—remain unresolved. Markets and observers should stay alert, as this "struggle behind diplomatic smiles" has only just begun.