Leaders of Pacific countries and territories, including China’s Xi Jinping, are gathering in South Korea for a major summit Friday. But the leader of one global powerhouse is conspicuously absent: Donald Trump.

The one-year agreement also addresses other issues, such as U.S. access to critical rare earth minerals and the Chinese soybean market, Trump said. The fate of social media platform TikTok remains unclear after the deal, but a thaw in tensions could influence a potential sale, some experts said.

China has reported its factory activity contracted for a seventh straight month in October, reflecting pressure from higher U.S. tariffs and sluggish domestic demand

President Donald Trump and Xi Jinping agree on soybean purchases after China shifted purchases to Brazil, a move that hurt American farmers.