When Xi Jinping walked out of his meeting with President Trump on Thursday, he projected the confidence of a leader of a country as powerful as the United States, one capable of shaping the terms of any deal.

当习近平在周四结束与特朗普总统的会晤走出会场时，他展现出一种自信的气度——那是一个领导着与美国同等强大国家的领袖才会拥有的自信，一种能够塑造任何协议条款的自信。

By flexing China’s near monopoly on rare earths and its purchasing power over U.S. soybeans, Mr. Xi won key concessions from Washington — a reduction in tariffs, a suspension of port fees on Chinese ships and the delay of U.S. export controls that would have barred more Chinese firms from accessing American technology. Both sides also agreed to extend a truce struck earlier this year to limit tariffs.

通过利用中国在稀土方面近乎垄断的地位以及其对美国大豆的采购能力，习近平从华盛顿赢得了关键让步——降低关税，暂停对中国船只的港口费用，以及推迟美国的出口管制，这些管制原本会阻止更多中国企业获取美国技术。双方都同意延长今年早些时候达成的限制关税的停战协议。

“What’s clear is they have become increasingly bold in exerting leverage and they are happy to pocket any and all U.S. concessions,” said Julian Gewirtz, who was a senior China policy official at the White House and the State Department in President Joseph R. Biden Jr.’s administration.

“很明显，他们在运用筹码方面变得越来越大胆，并且乐于收下美国的任何让步，”朱利安·格维尔茨说，他在拜登总统任期内曾担任白宫和国务院的中国政策高级官员。

Sounding almost like he was delivering a lecture, Mr. Xi said to Mr. Trump that the “recent twists and turns” of the trade war should be instructive to them both, according to a Chinese government summary of Mr. Xi’s remarks at the meeting in Busan, South Korea.

根据中国政府对习近平在韩国釜山会晤中的讲话内容通报，习近平对特朗普说话时语气几乎像是在上课，他表示，贸易战“近期经历曲折”，应该对双方都有所启示。

“Both sides should consider the bigger picture and focus on the long-term benefits of cooperation, rather than falling into a vicious cycle of mutual retaliation,” Mr. Xi said.

习近平表示：“双方应该算大账，多看合作带来的长远利益，而不应陷入相互报复的恶性循环。”

By twists and turns Mr. Xi was likely referring to the last several months, or nearly a year, of tit-for-tat retaliatory measures in the form of tariffs, sanctions and export controls. Earlier this month, China escalated dramatically, strengthening its hand by announcing sweeping new limits on the sales of on rare earths, critical minerals that are needed for almost all modern technology. Cutting off their supply could cripple U.S. industries.

习近平所说的“曲折”很可能指的是过去几个月，或者将近一年来，双方在关税、制裁和出口管制方面针锋相对的报复性措施。本月早些时候，中国大幅升级措施，通过宣布对稀土——几乎所有现代技术都需要的重要矿物——的销售实施新的全面限制，强化自己的筹码。切断这些供应可能会重创美国工业。

Mr. Xi’s message seemed to be: Beijing had proven its capacity to hit back and Washington would do well to remember it.

习近平传达的信息似乎是：北京已经证明了自己有能力进行反击，华盛顿最好记住这一点。

“After Trump launched his trade and tariff war, China was the only country that matched the United States blow for blow,” said Zhu Feng, a professor of international relations at Nanjing University, noting that the biggest win for China could be that the United States might think twice before imposing new measures on China.

南京大学国际关系教授朱锋表示：“在特朗普发动贸易和关税战之后，中国是唯一一个与美国针锋相对的国家。”他指出，中国最大的胜利可能在于，美国今后在对中国实施新措施前会三思而行。

“If Trump had forced China to implement its complete export controls on rare earths, it would have been a lose-lose situation for both sides,” he said.

他说：“如果特朗普迫使中国全面实施对稀土的出口管制，那将会是两败俱伤的局面。”

At the same time, Mr. Xi also seemed to grasp what Mr. Trump needed, a deal that he could sell as a victory at home. The outcome allowed Mr. Trump to claim a win for American farmers and companies, even though China had largely restored the status quo by agreeing to buy soybeans and to hold off on further restricting the export of rare earths.

与此同时，习近平似乎也理解特朗普需要什么——一项他可以在国内作为胜利宣传的协议。这一结果使特朗普能够宣称自己为美国农民和企业争取了胜利，尽管中国实际上通过同意购买大豆并暂缓进一步限制稀土出口，基本恢复了之前的状态。

Mr. Trump pumped a fist in the air as he boarded Air Force One, then said on the plane that Mr. Xi had agreed to take more action to stop the flow of chemicals used to make fentanyl from reaching the United States. He also said that China promised to purchase more U.S. soybeans. “Our Farmers will be very happy!” he posted on Truth Social afterward. “I would like to thank President Xi for this!”

特朗普在登上“空军一号”时挥拳致意，随后在飞机上表示，习近平已经同意采取更多行动，阻止芬太尼前体化学品流入美国。他同时宣布中国承诺将购买更多美国大豆。“我们的农民会非常高兴！”随后他在Truth Social上发文表示。“我想为此感谢习主席！”

After the two leaders met, China’s Ministry of Commerce said in a statement that it would suspend for one year the restrictions on rare earths that were announced in October. (The ministry made no mention of earlier controls announced in April.)

在两位领导人会面之后，中国商务部在一份声明中表示，将暂停实施今年10月宣布的稀土限制措施，为期一年。（声明未提及4月宣布的较早限制措施。）

Separately, Mr. Trump said he would cut in half the 20 percent tariffs he had imposed on Chinese goods to pressure China to do more to stop fentanyl trafficking. The reduction announced on Thursday brings overall tariffs on Chinese goods to around 47 percent from 57 percent, he said. The Chinese commerce ministry also said the two sides had agreed to a one-year extension of a truce to limit additional tariffs that was originally set to expire on Nov. 10.

此外，特朗普表示，他将把自己为迫使中国在阻止芬太尼贩运方面采取更多行动而对中国商品征收的20%关税削减一半。他说，周四宣布的减税措施将把对中国商品的整体关税从57%左右降至约47%。中国商务部也表示，双方同意将原定于11月10日到期的限制加征关税的停火协议延长一年。

Some experts said China inevitably had the upper hand in the trade fight because the Trump administration never had a clear objective.

一些专家表示，中国在这场贸易战中不可避免地占据上风，因为特朗普政府从未有过明确的目标。

“I think its an approach that can safely be described as tactics without a strategy,” said Jonathan Czin, a fellow at the Brookings Institution who previously analyzed Chinese politics at the C.I.A.

“我认为这种做法堪称只讲战术不论战略，”布鲁金斯学会研究员、曾在中情局从事中国政治分析工作的乔纳森·茨津说。

“Ostensibly, the goal was to address some of the meaty trade issues that had long bedeviled the relationship. Instead, the P.R.C. side has successfully orchestrated a game of ‘whack-a-mole’ for the Trump Administration,” Mr. Czin said, using the abbreviation for the People’s Republic of China.

“表面上，目标是解决长期困扰双边关系的一些实质性贸易问题。但实际上，中方成功地引导特朗普政府玩起了‘打地鼠’游戏，”茨津说。

Still, in a potential concession by Beijing, China’s official summary of the meeting did not mention Taiwan, the island democracy that Beijing claims. It is a topic that Chinese leaders usually bring up when meeting their U.S. counterparts to pressure Washington to dial back U.S. support for the island.

不过，北京可能做出了一个让步，中国对会谈的官方通报中并未提及台湾这个北京声称拥有主权的岛屿民主政体。这通常是中美领导人会晤时中方必谈议题，旨在要求美方减少对台湾的支持。

The agreements struck on Thursday could mean at least a temporary calm in the fractious U.S.-China relationship. Mr. Trump said the two leaders also discussed “working together” to end the war in Ukraine. He said he would travel to China in April and Mr. Xi would visit the United States after that.

周四达成的协议可能意味着，紧张的美中关系至少暂时迎来一段平静期。特朗普表示，两位领导人还讨论了“共同努力”结束乌克兰战争。他表示，他将在明年4月访问中国，随后习近平将访问美国。

Mr. Xi also played to Mr. Trump’s preference for personal rapport by appealing to Mr. Trump’s domestic agenda, saying that he believed China’s development “goes hand in hand” with the president’s “vision to ‘make America great again.’” Mr. Trump, for his part, flattered Mr. Xi, calling him “a great leader of a great country” and a “great friend.”

习近平也通过呼应特朗普的国内议程来迎合其注重私人关系的执政风格，他表示，他相信中国的发展“同特朗普总统要实现的‘让美国再次伟大’是并行不悖的”。而特朗普则恭维习近平，称他是“一个伟大国家的伟大领导人”以及“一位伟大的朋友”。

“It’s a personalized style of diplomacy that plays well to both leaders’ instincts,” said Lizzi C. Lee, a fellow focusing on the Chinese economy at the Asia Society Policy Institute. “For now, these gestures of good will seem to set the tone for a period of managed stability.”

“这是一种个人化的外交风格，很契合两位领导人的天性，”亚洲协会政策研究所专注中国经济问题的研究员莉茨·C·李说。“目前，这些善意举动似乎为一个受控的稳定期定下了基调。”

Still, any progress made on Thursday could easily be erased by moves on either side that are interpreted as violating the agreement. A deal struck last month was almost undone when the U.S. expanded the range of companies banned from accessing U.S. technology, which would have affected many Chinese companies. China then announced its export controls on rare earths. That prompted Mr. Trump to threaten to call off Thursday’s meeting and to impose yet more tariffs on Chinese goods.

不过，周四取得的任何进展都可能因任何一方被解读为违反协议的举动而轻易瓦解。上个月达成的一项协议就险些夭折，当时美国扩大了禁止获得美国技术的公司范围，这将影响许多中国企业。随后中国宣布了对稀土的出口管制。这促使特朗普威胁取消周四的会晤，并扬言启动新一轮对华加征关税。

In the absence of a finalized agreement, it is unclear how long the current détente will last.

由于缺乏最终协议，目前的缓和状态将持续多长时间仍是未知数。

“Maybe I’m jaded because I’ve seen this movie too many times, but these are issues that are relatively easy to roll back and also to accuse the other side of bad faith,” said Ja Ian Chong, a professor of political science at the National University of Singapore, about the state of the truce.

“或许是我看过太多次类似局面已变得麻木，但这些议题既比较容易出现反复，也很容易被用来指责对方没有诚意，”新加坡国立大学政治学教授庄嘉颖这样评价此次贸易休战态势。

特朗普周四离开釜山前，习近平呼应了前者“让美国再次伟大”的愿景。

Thursday’s progress threatened to be overshadowed by an announcement that Mr. Trump made just before the meeting. He said that the United States would resume nuclear weapons testing for the first time in more than three decades. But Mr. Trump seemed to suggest on Air Force One that the move was not directed at China, and analysts said it was not clear that Mr. Xi would see it as a provocation.

周四取得的进展有可能会被特朗普在会晤即将举行之前宣布的一项声明压过风头。他表示，美国将重启时隔三十多年的核试验。但特朗普在“空军一号”上的表态似乎暗示，这一举动并非针对中国，而分析人士表示，尚不清楚习近平是否会将其视为挑衅。

More important, experts in China said, is that the American president is focused on working with China.

中国的专家表示，更重要的是，美国总统正专注于与中国合作。

“If Trump truly wants to implement something, if he wants to go east, his staff wouldn’t dare go west,” said Xin Qiang, a U.S.-China expert at Fudan University in Shanghai.

复旦大学的中美问题专家信强表示：“一旦特朗普真的想达成什么事，如果他想往东，他的下属就不敢往西，”