👀👀🤔👉Trump Slashes China Tariffs, Signals Possible Trade Deal
President Trump announced after his "amazing" meeting with President Xi in Korea that the United States will reduce tariffs on Chinese imports from 57% to 47%. Specifically, fentanyl-related tariffs on China will be cut from 20% to 10%, effective immediately. They reached a one-year agreement on rare earth minerals, critical for technology production, removing the threat of further tariffs there. China also agreed to resume major U.S. soybean purchases and cooperate on issues including fentanyl trafficking and Ukraine. Additionally, there will be discussions about chip restrictions involving Nvidia.
Trump plans to visit China in April 2026, with Xi expected to visit the U.S. afterwards. This agreement signals a potential forthcoming broader trade deal between the two countries.
