Trump Announces Major Progress With China: Tariffs Down, Trade Talks Back On Track

Donald Trump says the United States could sign a trade deal with China “pretty soon” following his meeting with Chinese President Xi Jinping in South Korea. The former US President announced lower tariffs on Chinese imports — slashing them from 57% to 47% — and revealed that the dispute over rare earth exports has been resolved. Trump described his talks with Xi as “amazing” and said “a lot of decisions were made”, including immediate Chinese purchases of American soybeans and new discussions on semiconductor cooperation with firms like NVIDIA. He also stated that Xi had agreed to take strong action on the fentanyl issue. However, there was no discussion about Taiwan, and Beijing has not yet issued an official response. Analysts had been expecting an update on the TikTok deal, but Trump made no mention of it. The meeting marks what could be a major breakthrough in easing US-China trade tensions.