The summit between U.S. President Donald Trump and Chinese President Xi Jinping began Thursday in Busan, South Korea, amid a positive atmosphere and widespread optimism about ending the trade war between the two countries.

At the start of the meeting, Trump stated that “all issues related to rare earth metals have been resolved with China,” expressing hope for a “successful meeting” with the “strong negotiator” Xi Jinping. He affirmed that the relationship between the two nations “will be great for a long time,” and that a trade agreement could be signed during this summit.

President Xi, in turn, expressed his pleasure at meeting Trump again, praising the United States’ role in “ending the war in Gaza.” He emphasized that “Beijing and Washington must jointly shoulder responsibility as two great powers,” acknowledging that differences are natural between countries, but “we must preserve our friendship and work together for the good of our nations and the entire world.”

Xi added that trade negotiators from the world’s two largest economies “have reached a basic consensus on an agreement between the two countries,” noting that China’s development does not conflict with Trump’s vision to “make America great again.”

Trump departed South Korea after approximately an hour and forty minutes of talks with Xi Jinping. He headed directly to Air Force One following their first face-to-face meeting in six years, held in Busan, South Korea, as the world watches closely for the potential impact of this summit on bilateral relations.

Speaking aboard the presidential aircraft en route to Washington, Trump said, “I think the meeting was great. We made a number of excellent decisions. There’s not much left. We reached conclusions on many important issues.”