Trump cuts tariffs on China after meeting Xi in South Korea
ABOARD AIR FORCE ONE (AP) — President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking. Trump’s aggressive use of tariffs since returning to the White House for a second term combined with China’s retaliatory limits on exports of rare earth elements gave the meeting newfound urgency. Trump told reporters he decided to reduce the current rate from 57% after the talks. Xi said Washington and Beijing would work to finalize their agreements to provide “peace of mind” to both countries and the rest of the world, according to a report on the meeting carried by Chinese state media.

