After meeting with the Chairman of the People's Republic of China, Xi Jinping, in South Korea, U.S. President Donald Trump announced a reduction in tariffs on Chinese goods. This decision resulted from an agreement in which Beijing committed to increasing purchases of American soybeans, allowing the export of rare earth metals, and taking measures to combat the spread of fentanyl, reports Kazinform.
On board the presidential plane, returning to Washington, Trump told reporters that new tariffs on exports from China would be reduced from 57% to 47%, as reported by AXIOS.
According to the president, the results of the meeting were impressive, and the issue of rare earth metals is now successfully resolved, notes CNBC.
Trump also mentioned the agreement reached on the supply of rare earth metals, the terms of which will be reviewed annually.
Tariffs on fentanyl will decrease from 20% to 10%, while China will resume purchases of American soy and other agricultural products, intensifying efforts to combat this drug.
Additionally, Trump reported that negotiations are underway with Nvidia and other companies regarding the sale of chips to China.
The president clarified that issues concerning Taiwan were not raised during the negotiations.
At this time, Trump does not plan to impose additional tariffs of 100% on Chinese products.
In April, Trump plans to visit Beijing, after which Xi Jinping is expected to visit the U.S.
The Chinese side has not yet confirmed this information.
