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.
329 Articles
329 Articles
The summit in South Korea reached yet another truce between the two rival superpowers, not a trade peace
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…
3 major business takeaways from Trump and Xi's first face-to-face meeting in 6 years
Trump and Xi met in Busan, South Korea, on Thursday, and agreed on tariff cuts, Chinese farm purchases, and energy talks.Andrew Harnik/Getty ImagesTrump and Xi met in South Korea for their first face-to-face talks in six years, easing trade tensions.The US will cut tariffs on Chinese goods as Beijing restarts massive farm-goods purchases.China pledged rare-earth access, fentanyl cooperation, and potential Alaskan energy deals.Donald Trump and Xi…
Trump, Xi meet in person as US and China move to ease trade tensions
US President Donald Trump returned to Washington on Thursday after a high-stakes face-to-face meeting with Chinese President Xi Jinping, calling the talks “a success” and announcing new steps to ease trade tensions between the world’s two largest economies.
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