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Trump announced a cut on Chinese imports after meeting with Xi in South Korea, citing new understandings on fentanyl enforcement, farm trade and rare-earth exports.
1don MSN
The Latest: Trump says he has deals with China after meeting Xi to try to solve trade tensions
President Donald Trump said he's made deals with China after meeting Chinese leader Xi Jinping on Thursday, the final day of a trip to Asia that was an opportunity for the leaders of the world’s two largest economies to stabilize relations after months of turmoil over trade issues.
US and Chinese officials have reached a framework agreement, averting a potentially ruinous 157% tariff on Chinese goods while paving the way for a potential trade deal to be discussed between President Donald Trump and Chinese leader Xi Jinping later this week.
President Trump told reporters aboard Air Force One that the U.S. would lower tariffs implemented earlier this year as punishment on China for its selling of chemicals used to make fentanyl from 20% to 10%.
China’s leader agreed to delay restrictions on rare earth minerals for a year and buy more soybeans, Trump said after a meeting designed to calm trade tensions.
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