US EditionPublished • loading... • Updated
Deal between the US and China is undoing damage from a self-inflicted trade war
The U.S. and China agreed to reduce tariffs, resume soybean imports with China pledging to buy 25 million metric tons annually, and suspend port fees and rare earth export controls for one year.
- On Thursday, U.S. President Donald Trump and Chinese leader Xi Jinping called a truce in Busan, South Korea, ending a six-month trade confrontation and exchanging invitations for official visits.
- Prompted by U.S. measures, Beijing responded with port fees targeting China-linked vessels and halted American soybean imports, initiating the dispute after U.S. tariffs on Chinese goods.
- Key terms include agricultural buys and temporary suspensions: China agreed to buy 12 million metric tons of U.S. soybeans through January and at least 25 million metric tons annually for next three years, while pausing rare earth export rules and reciprocal port fees for one year.
- But political leaders in the U.S. reacted strongly, with Senate Minority Leader Chuck Schumer denouncing the deal as risking fresh disputes during finalization, while the agreement temporarily stabilizes markets.
- Still, analysts caution that the strategic rivalry persists, with experts noting Beijing's leverage due to China's 5.2% GDP growth and dominance in rare earths, leaving the truce fragile.
Insights by Ground AI
28 Articles
28 Articles
Associated Press News+12 Reposted by 12 other sources
Deal between the US and China is undoing damage from a self-inflicted trade war
After months of posturing, arguing and threatening, U.S. President Donald Trump and Chinese leader Xi Jinping have essentially turned back the clock.
·United States
Read Full Article
Busan – The trade dispute between China and the US has threatened the supply chains of the industry worldwide. Does the Trump deal now provide relaxation for us?
·Berlin, Germany
Read Full Article
Coverage Details
Total News Sources28
Leaning Left6Leaning Right3Center9Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 33%
C 50%
R 17%
Factuality
To view factuality data please Upgrade to Premium
