US EditionTrump and Xi land in Busan for highly anticipated meeting over trade and tariffs
- On Thursday at a South Korea summit, President Donald Trump and Chinese President Xi Jinping agreed to slash tariffs from 57 per cent to 47 per cent and covered soybean purchases, fentanyl precursors and rare earth exports.
- Rising tensions followed a tit-for-tat tariff fight that began in early February, with Trump threatening a 100% tariff starting November 1 and American farmers hurt after China halted purchases earlier this year.
- Xi committed to work `very hard` on stopping fentanyl precursors, and Trump immediately halved a fentanyl-related tariff from 20% to 10%, while negotiators blocked China's proposed rare earth mineral export curbs.
- Trump said the framework would last at least a year and be renegotiated annually, paving the way for a deal to be signed `pretty soon` as Chinese stocks hit a 10-year high and the yuan rallied.
- The meeting marked the first in-person encounter since 2019, with Trump calling it `amazing` and rating it a 12 out of 10, and he said he will visit Beijing in April.
343 Articles
343 Articles
6 takeaways from Trump's meeting with Chinese leader Xi
President Donald Trump met with China's Xi Jinping on the sidelines of Pacific Rim summit gatherings in South Korea, where the two leaders agreed to dial back some of their trade measures and work together to resolve others.
The summit in South Korea reached yet another truce between the two rival superpowers, not a trade peace
Experts react: What does the Trump-Xi meeting mean for trade, technology, security, and beyond?
The US and Chinese presidents met on Thursday to discuss issues ranging from tariffs to TikTok. Atlantic Council experts break down what came out of the tête-à-tête.
Trump to lower tariffs on China after trade meeting with Xi Jinping
President Donald Trump met with Chinese President Xi Jinping for the first time in six years during a meeting in South Korea aimed at settling some trade differences. Trump announced the US will reduce tariffs on Chinese goods entering America, and in return China will start to import more agricultural products such as soybeans. But many other issues remain unresolved, including whether TikTok will be allowed to operate in America and China’s co…
The Northern Echo
Trump cuts tariffs on China after meeting Xi Jinping in South Korea
The US and China are seeking dominant places in manufacturing and developing emerging technologies such as artificial intelligence.
Busan, South Korea. Presidents Donald Trump and Xi Jinping today sealed an agreement to ease trade tensions between the United States and China, after six years without direct encounters. The pact includes the reduction of tariffs by Washington and Beijing’s commitment to maintain the supply of rare earths, essential materials for the technological and military industry. Trump called the meeting, held in the South Korean city of Busan during the…
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