U.S. Cuts Tariffs on China After Trump–Xi Talks
Following a high-profile meeting in South Korea, U.S. President Donald Trump announced that the United States will reduce some tariffs on Chinese goods. He said duties linked to chemical precursors for fentanyl will drop from 20% to 10%. At the same time, Trump stated that the overall U.S. tariff rate on Chinese imports will fall to “around 47%” from roughly 57%.
Rare Earths and Trade Deal
Trump declared that the longstanding dispute over rare-earth exports from China is “settled” under a one-year framework agreement. According to him, China has committed to continue supplying critical minerals, and U.S. importers should face no immediate export restrictions moving forward.
Broader Implications
The developments aim to ease tensions in the U.S.–China trade war and resume smoother flows of goods in sectors reliant on rare-earth elements and chemicals. While the deal appears to stabilise key supply chains, analysts caution that the one-year term and vague enforcement raise questions about long-term durability.
