Trump cuts China tariffs after ‘amazing’ talks with Xi

Shafaq News – Busan

The United States agreed to cut tariffs on Chinese imports following talks between US President Donald Trump and Chinese President Xi Jinping in the South Korean city of Busan on Thursday.

Trump told reporters aboard Air Force One shortly after departing Busan that tariffs would be reduced to 47% from 57%, including a cut on levies related to trade in fentanyl precursor chemicals to 10% from 20%. In return, Beijing pledged to curb the flow of fentanyl, resume US soybean purchases, and maintain exports of rare earth minerals.

Held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, the meeting was the first between the two leaders since 2019 and lasted nearly two hours. Trump described it as “amazing,” explaining that the tariff reduction reflected confidence that China was taking “strong action” against the illicit fentanyl trade, which remains the leading cause of overdose deaths in the United States.

The Busan meeting concluded Trump’s Asia tour, which included trade discussions with South Korea, Japan, and Southeast Asian nations. He announced plans to visit China in April, with Xi expected to travel to Washington soon afterward, while the Chinese leader—who has yet to comment on the outcome—is scheduled to address the APEC leaders’ summit later in the day.

The US president had repeatedly emphasized the prospect of reaching an agreement with Xi after US negotiators on Sunday announced a framework with China to avoid 100% tariffs on Chinese goods and defer Beijing’s export curbs on rare earths, a sector it dominates.