Trump, Xi agree to shave China tariffs in deal on fentanyl, end rare earths ‘roadblock’ #CNA
Trump, Xi agree to shave China tariffs in deal on fentanyl, end rare earths ‘roadblock’
United States President Donald Trump said on Thursday (Oct 30) he had agreed with President Xi Jinping to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming US soybean purchases and keeping rare earths exports flowing.
Trump’s face-to-face talks with Xi in South Korea’s Busan marked the finale of the US president’s whirlwind Asia trip on which he also touted trade breakthroughs with South Korea, Japan and Southeast Asian nations.
Speaking to reporters aboard Air Force One after departing Busan, Trump said tariffs on Chinese imports would be cut to 47 per cent from 57 per cent, by halving to 10 per cent the rate of tariffs related to trade in fentanyl precursor drugs. Xi will work “very hard to stop the flow” of fentanyl, a deadly synthetic opioid that is the leading cause of American overdose deaths, Trump added.
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