President Donald Trump announced a trade agreement of sorts with his Chinese counterpart, Xi Jinping, following a closed-door meeting in South Korea on Wednesday.

Ahead of the meeting, Trump posted a message on Truth Social referencing nuclear weapons testing, which many observers interpreted as a possible warning to China against taking aggressive actions.

Xi described his meeting with former President Donald Trump as “warm,” saying it was good to see him again and emphasizing that the two countries should maintain a stable relationship despite their differences.

“We have a deal,” Trump said during a post-meeting question-and-answer session. “Every year we’ll renegotiate the deal, but I think it’ll go on for a long time.”

Trump announced Thursday that he will reduce tariffs on Chinese imports following the closely watched meeting in Busan.

The president cited new agreements on fentanyl enforcement, agricultural trade, and a temporary pause on China’s limits on rare-earth mineral exports as key outcomes of the talks,