President Trump announced Thursday that he will slash the US tariffs on Chinese goods from 57% to 47%, after a high-stakes meeting with Chinese President Xi Jinping in South Korea. The decision comes as part of a deal reached during talks between the two leaders, which aims to ease tensions in the ongoing trade war.
According to Trump, his meeting with Xi was "amazing" and a "great success", with the president describing it as a 12 out of 10 in terms of scale. He stated that he expects to sign an agreement on trade, but noted that renegotiations could take place in future years. The deal includes promises by China to curtail shipments of fentanyl ingredients to the US and resume purchasing US soybeans.
The tariffs reduction is a significant concession from Trump's previous stance, which had imposed massive tariffs on Chinese imports. However, it leaves China with one of the highest tariff rates imposed by the US. The agreement also appears to have settled tensions over Chinese restrictions on rare earth exports.
Trump will visit China in April for new talks and announced that Xi Jinping will come to Washington DC "sometime after" his planned trip. The two leaders met at a South Korean military base as part of Trump's five-day Asia tour, which aimed to strengthen economic ties and cement trade deals in the South Pacific region.
The meeting was seen as a crucial moment in the trade war between the world's two largest economies, with US tariffs on Chinese goods reaching historic highs. The agreement reached during Thursday's talks marks a significant shift in Trump's approach, as he had previously threatened to impose even higher tariffs on Chinese imports.
In a statement, Xi Jinping expressed his commitment to a partnership and friendship with the US, noting that relations have been "stable overall". China has been seeking to ease tensions with the US and restore trade relations, while the US has been pushing for concessions on issues such as intellectual property theft and technology transfer.
According to Trump, his meeting with Xi was "amazing" and a "great success", with the president describing it as a 12 out of 10 in terms of scale. He stated that he expects to sign an agreement on trade, but noted that renegotiations could take place in future years. The deal includes promises by China to curtail shipments of fentanyl ingredients to the US and resume purchasing US soybeans.
The tariffs reduction is a significant concession from Trump's previous stance, which had imposed massive tariffs on Chinese imports. However, it leaves China with one of the highest tariff rates imposed by the US. The agreement also appears to have settled tensions over Chinese restrictions on rare earth exports.
Trump will visit China in April for new talks and announced that Xi Jinping will come to Washington DC "sometime after" his planned trip. The two leaders met at a South Korean military base as part of Trump's five-day Asia tour, which aimed to strengthen economic ties and cement trade deals in the South Pacific region.
The meeting was seen as a crucial moment in the trade war between the world's two largest economies, with US tariffs on Chinese goods reaching historic highs. The agreement reached during Thursday's talks marks a significant shift in Trump's approach, as he had previously threatened to impose even higher tariffs on Chinese imports.
In a statement, Xi Jinping expressed his commitment to a partnership and friendship with the US, noting that relations have been "stable overall". China has been seeking to ease tensions with the US and restore trade relations, while the US has been pushing for concessions on issues such as intellectual property theft and technology transfer.
! Trump's willingness to reduce tariffs is a total 180 from his usual aggressive stance, you know? 
It's like, what changed his mind? 
Was it just the fact that Xi Jinping showed up with an open hand and offered those sweet soybean deals? 
I don't get it, but at the same time, I kinda do? 
The trade war was getting out of hand and this might be a much-needed reset. Fingers crossed it holds up and we see some real progress! 
but also i'm kinda curious about what we get in return... are they gonna relax on those intellectual property theft issues or something? 
and btw, 47% tariffs still seems super high to me... maybe it's just me tho 
. And yeah, fentanyl ingredients and soybeans are good concessions for them. The US just needs to make sure they follow through on those deals 
. Trump's meeting with Xi was actually pretty positive, I guess it was a win-win... but only kinda 
I'm super bummed out about this deal 
. Trump's always saying he wants to make America great again, but it seems like he's just making China rich again 
. 47% tariffs are still way too high and it's not like China is losing any sleep over it 
. They're gonna keep on profiting off our soybeans while we're stuck with a bunch of cheap junk 
. And don't even get me started on the rare earth exports, that's just a nice little bonus for China 
. I mean, what's the point of having all this power if you can't use it to negotiate something better? This whole deal smells like weakness to me 
.
which kinda makes sense considering how much China imports from the US...I think it's also pretty interesting that Xi is coming to DC in April - will we finally get some answers about those tech transfer issues? 
. one thing that still gets me tho is why china agreed to cut fentanyl shipments while trump's still being super strict about intellectual property theft 
so president trump is literally trying to make friends with china again after that whole trade war thingy got crazy 
and btw did u know that trump's son eric is dating this girl who's like super rich in china? i heard it on a podcast and i thought it was interesting 
anywayz, i guess this trade war thing is kinda over now... or is it just gonna start again after the next meeting lol