Is the U.S.-China trade war finally cooling off? Live from the UK, this is the Marketplace Morning Report from the BBC World Service. I'm William Lee Adams. Good morning.

It was a long-anticipated meeting. The presidents of the world's two largest economies face-to-face for the first time since this year's tit-for-tat tariffs came into play.

Now, President Trump says the U.S. can sign a trade deal with China pretty soon,

following those talks with Chinese President Xi Jinping in South Korea.

The two leaders held a meeting in the city of Busan,

and President Xi told Chinese state media they'd reached a consensus on solving major trade issues.

Both presidents were in the country ahead of the APEC meeting that's being held in the city of Qingu.

So what happens now?

The BBC's Surinjana Tuari joins us from quite a noisy hotel at the APEC summit.

Surinjana hi.

Hi there.

President Trump sounded upbeat after the meeting, calling it a 12 out of 10.

What exactly did the Americans gain from talks?

Yes, he said he had an amazing meeting with China's president Xi Jinping.

They did meet in a very insignificant building at Busan airport as President Donald Trump was flying out and Xi Jinping was

flying in for the APEC leader summit. This comes against the backdrop of months and months of

trade talks and, you know, Donald Trump's tariffs have really caused chaos not just for China,

but other countries around the world. But it's the

US-China relationship that has been most frosty ever since. And we do understand that he has

agreed to cut China's tariffs to 47% from 57% and in return, China has agreed to keep rare earth exports flowing. Of course, China controls

most of the rare earth's supply and those critical minerals are used in everything from

electric vehicles to smartphones and green energy appliances. We've been hearing a lot about

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