Trump Lowers Tariffs On China, Ends 'Rare Earths Roadblock' After Xi Meeting

In a significant turn in US–China relations, President Donald Trump announced a series of major agreements following his meeting with Chinese President Xi Jinping. Calling Xi “a great leader of a very powerful country,” Trump revealed that both nations had reached consensus on several key issues — from agricultural purchases to fentanyl control. The President confirmed that China would immediately resume large-scale imports of American soybeans and other farm goods. In a major policy shift, Trump also slashed tariffs on Chinese imports by 10%, citing progress on China’s commitment to tackle fentanyl flows. Discussions extended to advanced semiconductor exports, with Trump hinting that NVIDIA and Chinese firms could soon explore new collaborations — although Blackwell chips remain restricted. Perhaps most notably, Trump declared an end to the “rare earths roadblock”, signalling a breakthrough that could ease global supply chains. With only “a few stumbling blocks left”, the President said a formal trade deal could be signed “pretty soon”.