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U.S. President Donald Trump said he had an “amazing” meeting Thursday with China’s top leader Xi Jinping that produced very important decisions.

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U.S. President Donald Trump said he had an “amazing” meeting Thursday with China’s top leader Xi Jinping that produced very important decisions. The first official Chinese comments on the meeting were less specific and suggested any trade deal is not done.

Trump met with Xi on the sidelines of Pacific Rim summit gatherings in South Korea, where the two leaders agreed to dial back some of their trade measures and work together to resolve others.

The one hour and 40 minute meeting’s agenda appears not to have touched on some perennial problems such as tensions over the self-governed island of Taiwan.

But Trump said China had agreed to buy large quantities of American farm products and to ensure steady supplies of rare earths elements used in many industries. Here are some of the key takeaways from the meeting, based on comments by Trump and U.S. and Chinese officials:

Rolling back tariffs

Trump told reporters while heading home on Air Force One that he had agreed to cut his 20% tariff increase, imposed over China’s role in producing fentanyl and chemicals used to make it, to 10%. China confirmed that will take average tariffs on Chinese goods to 47%, down from 57%.

The two sides agreed to continue to work on cracking down on illicit flows of the drug into the U.S.

Other tariff increases remain in place, but for now, the two sides have extended a truce on even steeper tariff increases that began in May when Trump and Xi agreed to allow time to work on a framework for resolving trade tensions.

Sales of computer chips to China

Trump said he discussed U.S. sales of computer chips to China. Trump and former President Joe Biden had imposed restrictions on access to the most advanced chips such as those used for artificial intelligence.

China will speak with Silicon Valley chipmaker Nvidia about purchasing their computer chips, he said.

That won’t include its next-generation Blackwell AI chip, he said, “but a lot of the chips.”

“We make great chips,” Trump told reporters on Air Force One. “Nvidia’s the leader.”

U.S. soybeans and other farm exports

Trump said the Chinese side has committed to buying “a tremendous amount” of American soybeans, sorghum and other farm products.

The Chinese side did not provide any details, but U.S. Treasury Secretary Scott Bessent later said China had agreed to buy 25 million metric tons of U.S. soybeans annually as part of the agreement. China will start by purchasing 12 million metric tons of soybeans from America between now and January, he said.

Beijing took aim at U.S. agricultural exports soon after Trump began announcing hikes on tariffs after he returned to the White House in January. Cutbacks in Chinese purchases of soybeans, beef and other products have hit U.S. farmers hard.

“Farmers should immediately go out and buy more land and larger tractors,” Trump wrote in a post on Truth Social. “I would like to thank President Xi for this!”

The U.S. soybean industry grew in response to Chinese demand starting back in the 1990s, when China began its rapid economic rise and turned to foreign producers to help feed its people. Protein-rich soybeans are an essential part of the diet.

While China relies on domestic crops for steamed beans and tofu, it needs far more soybeans for oil extraction and animal feed. In 2024, China produced 20 million metric tons of soybeans, while importing more than 105 million metric tons.

There were no specific details on other purchase agreements.

No TikTok deal yet

Beijing said it will work with the Trump administration to resolve issues related to TikTok’s ownership.

“China will work with the U.S. to properly resolve issues related to TikTok,” China’s Commerce Ministry said after Xi’s meeting with Trump.

It gave no details on any progress toward ending uncertainty about the fate of the popular video-sharing platform in the U.S. The Trump administration had been signaling that it may have finally reached a deal with Beijing to keep TikTok running there.

Rare earths, port fees and U.S energy sales

Trump told reporters that China had agreed not to tighten restrictions on exports of rare earths and the technology and equipment used to process them. Trump earlier had threatened a 100% import tax because of China’s rare earth restrictions.

“That roadblock is gone now,” he said. He said Beijing had agreed not to implement for a year its recently announced controls that had raised concerns over access to the critical minerals used in many industries, including electric vehicles and aircraft.

China and the U.S. likewise said they would not impose higher port fees on each other’s vessels.

In his post on Truth Social, Trump said China had agreed to begin purchasing oil and gas from Alaska, adding that officials would be meeting to see “if such an Energy Deal can be worked out.”

China’s take on the meeting

Xi noted that negotiating teams from both countries had reached a consensus, a likely reference to talks held in Malaysia last weekend, according to a report on the meeting distributed by state media.

The Chinese leader said the teams should complete follow-up work as soon as possible to deliver tangible results that will provide “peace of mind” to China, the U.S. and the rest of the world.

The recent twists and turns in the relationship offer lessons for the U.S. and China, Xi said. The U.S. and China should have positive interactions on the global stage that demonstrate their responsibility as major powers to achieve positive results for their countries and the world, he said.

“Both sides should take the long-term perspective into account, focusing on the benefits of cooperation rather than falling into a vicious cycle of mutual retaliation,” he said, according to the report.

Stressing that dialogue is better than confrontation, Xi listed a range of issues where China and the U.S. could work together, including combating illegal immigration and telecom fraud, anti-money laundering efforts, artificial intelligence and handling infectious diseases.

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Associated Press writers Josh Boak, Chris Megerian, Mark Schiefelbein and other AP journalists contributed to this report.



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Despite AI bubble fears, Warren Buffett’s Berkshire Hathaway buys shares of hyperscaler Alphabet

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Wall Street has been consumed for months with fears that the artificial intelligence boom is actually a bubble about to pop, but that didn’t stop Berkshire Hathaway from buying shares of a top AI hyperscaler.

Warren Buffett’s conglomerate revealed in a regulatory filing late Friday that it purchased 17.8 million shares of Google parent Alphabet during the third quarter. The stock jumped 4% in after-hours trading yesterday.

It was the biggest stock addition last quarter and was worth about $4.3 billion at the end of September. Berkshire also bought shares of Chubb, Domino’s Pizza, Sirius XM and Lennar.

Meanwhile, Berkshire maintained its position in Amazon, another AI hyperscaler, in the third quarter.

The addition of Alphabet comes amid a massive rally. Even after the most recent AI-fueled stock market selloff, Alphabet shares are still up 46% this year.

To be sure, Alphabet has been on Berkshire’s radar in the past. In 2019, Buffett’s right-hand man at the time, the late Charlie Munger, admitted that he felt “like a horse’s ass for not identifying Google better. I think Warren feels the same way.”

Back then, Google’s dominance in search piqued Berkshire’s interest. But today, the company is among the tech giants leading the charge into AI.

Alphabet, Amazon, Meta Platforms and Microsoft alone are spending hundreds of billions of dollars a year with no signs of a slowdown.

Morgan Stanley has estimated AI hyperscalers plan to spend about $3 trillion on data centers and other infrastructure through 2028.

The relentless capital expenditures, much of which is coming via debt, have made Wall Street nervous about whether AI companies will be able to translate all those outlays into sustainable revenue and profits.

With Buffett due to step down as Berkshire’s CEO by year’s end, it’s not immediately clear whether he, successor Greg Abel, or another top executive made the call to buy Alphabet stock.

And investors may not hear directly from the “Oracle of Omaha” on the matter. In a letter published Monday, Buffett said he’ll be “going quiet,” and will no longer write Berkshire’s annual report, nor talk “endlessly” at the annual meeting.

Leading up to Buffett’s departure, Berkshire has been taking a cautious stance on the stock market as well as company acquisitions, sending its cash pile to record highs.

Buffett’s closely followed stock portfolio continued to shrink overall, as last quarter marked three straight years of net selling. The most recent round of selling included more shares of Apple, which Berkshire has been steadily offloading for more than a year.



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Trump, who mocked Biden’s use of autopen, caught posting identical signatures on pardons

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The Justice Department posted pardons online bearing identical copies of President Donald Trump’s signature before quietly correcting them this week after what the agency called a “technical error.”

The replacements came after online commenters seized on striking similarities in the president’s signature across a series of pardons dated Nov. 7, including those granted to former New York Mets player Darryl Strawberry, former Tennessee House speaker Glen Casada and former New York police sergeant Michael McMahon. In fact, the signatures on several pardons initially uploaded to the Justice Department’s website were identical, two forensic document experts confirmed to The Associated Press.

Within hours of the online speculation, the administration replaced copies of the pardons with new ones that did not feature identical signatures. It insisted Trump, who mercilessly mocked his predecessor’s use of an autopen, had originally signed all the Nov. 7 pardons himself and blamed “technical” and staffing issues for the error, which has no bearing on the validity of the clemency actions.

The questions about Trump’s signature come amid a new flurry of clemency and weeks after the president claimed to not even know Changpeng Zhao, a crypto billionaire he pardoned last month. He said in an interview with 60 Minutes that the case had been “a Biden witch hunt.”

“A basic axiom of handwriting identification science is that no two signatures are going to bear the exact same design features in every aspect,” said Tom Vastrick, a Florida-based handwriting expert who is president of the American Society of Questioned Document Examiners.

“It’s very straightforward,” said Vastrick, who compared the apparently identical images, now only visible through the online Internet Archive, with the replacements at AP’s request.

Chad Gilmartin, a Justice Department spokesperson, said the “website was updated after a technical error where one of the signatures President Trump personally signed was mistakenly uploaded multiple times due to staffing issues caused by the Democrat shutdown.”

“There is no story here other than the fact that President Trump signed seven pardons by hand and DOJ posted those same seven pardons with seven unique signatures to our website,” Gilmartin said in a statement to AP, referring to the latest wave of clemency Trump has granted in recent weeks.

White House spokesperson Abigail Jackson wrote in an email that Trump “signed each one of these pardons by hand as he does with all pardons.”

“The media should spend their time investigating Joe Biden’s countless auto penned pardons, not covering a non-story,” she wrote.

Trump has been an outspoken critic of Biden’s use of the autopen to conduct executive business, going as far as to display a picture of one such device in place of a portrait of his predecessor in a new “Presidential Walk of Fame” he created along the West Wing colonnade. His Republican allies in Congress last month released a blistering critique of Biden’s alleged “diminished faculties” and mental state during his term that ranked the Democrat’s use of the autopen among “the greatest scandals in U.S. history.”

The Republicans said their findings cast doubt on all of Biden’s actions in office and sent a letter to Attorney General Pam Bondi urging a full investigation.

“Senior White House officials did not know who operated the autopen and its use was not sufficiently controlled or documented to prevent abuse,” the House Oversight Committee found. “The Committee deems void all executive actions signed by the autopen without proper, corresponding, contemporaneous, written approval traceable to the president’s own consent.”

On Friday, Republicans who control the committee released a statement that characterized Trump’s potential use of an electronic signature as legitimate, which it distinguished from Biden’s.

But Rep. Dave Min, a California Democrat on the House Oversight Committee, seized on the apparent similarities in the initial version of the pardons and called for an investigation of the matter, deploying the Republican arguments against Biden in a statement to AP that “we need to better understand who is actually in charge of the White House, because Trump seems to be slipping.”

Regardless, legal experts say the use of an autopen has no bearing on the validity of the pardons.

“The key to pardon validity is whether the president intended to grant the pardon,” said Frank Bowman, a legal historian and professor emeritus at the University of Missouri School of Law who is writing a book on pardons. “Any re-signing is an obvious, and rather silly, effort to avoid comparison to Biden.”

Much of Trump’s mercy has gone to political allies, campaign donors and fraudsters who claimed they were victims of a “weaponized” Justice Department. Trump has largely cast aside a process that historically has been overseen by nonpolitical personnel at the Justice Department.

Casada, a disgraced former Republican speaker of the Tennessee House, was sentenced in September to three years in prison. He was convicted of working with a former legislative aide to win taxpayer-funded mail business from state lawmakers who previously drove Casada from office amid a sexting scandal.

Strawberry was convicted in the 1990s of tax evasion and drug charges. Trump cited the 1983 National League Rookie of the Year’s post-career embrace of his Christian faith and longtime sobriety when pardoning him.

McMahon, a former New York City police sergeant, was sentenced this spring to 18 months in prison for his role in what a federal judge called “a campaign of transnational repression.” He was convicted of acting as a foreign agent for China after he tried to scare an ex-official into going back to his homeland.

McMahon’s defense attorney, Lawrence Lustberg, said he was not aware the pardon documents had been replaced until he was contacted Friday by an AP reporter.

“It is and has always been our understanding that President Trump granted Mr. McMahon his pardon,” Lustberg wrote in an email.

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Mustian reported from Natchitoches, Louisiana. AP reporter Eric Tucker contributed reporting from Washington.



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Trump finally breaks with MAGA stalwart Marjorie Taylor Greene after flood of vicious criticism, labeling her ‘wacky’

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President Donald Trump has publicly called it quits with one of his most stalwart MAGA-world supporters, calling Georgia Rep. Marjorie Taylor Greene “’Wacky’ Marjorie” and saying he would endorse a challenger against her in next year’s midterms “if the right person runs.”

The dismissal of Greene — once the epitome of “Make America Great Again,” sporting the signature red cap for President Joe Biden’s 2024 State of the Union address and acting as a go-between for Trump and other Capitol Hill Republicans — appeared to be the final break in a dispute simmering for months, as Greene has seemingly moderated her political profile. The three-term U.S. House member has increasingly dissented from Republican leaders, attacking them during the just-ended federal government shutdown and saying they need a plan to help people who are losing subsidies to afford health insurance policies.

Accusing the Georgia Republican of going “Far Left,” Trump wrote that all he had witnessed from Greene in recent months is “COMPLAIN, COMPLAIN, COMPLAIN!” adding, of Greene’s purported irritation that he doesn’t return her phone calls, “I can’t take a ranting Lunatic’s call every day.”

In a response on X, Greene wrote Friday that Trump had “attacked me and lied about me.” She added a screenshot of a text she said she had sent the president earlier in the day about releasing the Jeffrey Epstein files, which she said “is what sent him over the edge.”

Greene called it “astonishing really how hard he’s fighting to stop the Epstein files from coming out that he actually goes to this level,” referencing next week’s U.S. House vote over releasing the Epstein files.

Writing that she had supported Trump “with too much of my precious time, too much of my own money, and fought harder for him even when almost all other Republicans turned their back and denounced him,” Greene added, “I don’t worship or serve Donald Trump.”

Trump’s post seemingly tied a bow of finality to fissures that widened following this month’s off-cycle elections, in which voters in the New Jersey and Virginia governor races flocked to Democrats in large part over concerns about the cost of living.

Last week, Greene told NBC News that “watching the foreign leaders come to the White House through a revolving door is not helping Americans,” saying that Trump needs to focus on high prices at home rather than his recent emphasis on foreign affairs. Trump responded by saying that Greene had “lost her way.”

Asked about Greene’s comments earlier Friday as he flew from Washington to Florida, Trump reiterated that he felt “something happened to her over the last month or two,” saying that, if he hadn’t gone to China to meet leader Xi Jinping, there would have been negative ramifications for jobs in Georgia and elsewhere because China would have kept its curbs on magnet exports.

Saying that people have been calling him, wanting to challenge Greene, Trump added, “She’s lost a wonderful conservative reputation.”

Greene’s discontent dates back at least to May, when she announced she wouldn’t run for the Senate against Democratic incumbent Jon Ossoff, while attacking GOP donors and consultants who feared she couldn’t win. In June, she publicly sided with Tucker Carlson after Trump called the commentator “kooky” in a schism that emerged between MAGA and national security hardliners over possible U.S. efforts at regime change in Iran.

That only intensified in July, when Greene said she wouldn’t run for governor. Then, she attacked a political “good ole boy” system, alleging it was endangering Republican control of the state. Greene embarked on a charm offensive in recent weeks, with interviews and appearances in media aimed at people who aren’t hardcore Trump supporters. Asked on comedian Tim Dillon’s podcast if she wanted to run for president in 2028, Greene said in October, “I hate politics so much” and just wanted “to fix problems” — but didn’t give a definitive answer.

That climaxed with an appearance on Bill Maher’s HBO show “Real Time,” followed days later by a Nov. 4 appearance on ABC’s “The View.” Some observers began pronouncing Greene as reasonable as she trashed Republican House Speaker Mike Johnson of Louisiana for not calling Republicans back to Washington and coming up with a health care plan.

“I feel like I’m sitting next to a completely different Marjorie Taylor Greene,” said “The View” co-host Sunny Hostin.

“Maybe you should become a Democrat, Marjorie,” said co-host Joy Behar.

“I’m not a Democrat,” Greene replied. “I think both parties have failed.”

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Jeff Amy contributed reporting from Atlanta.



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