New York : Calling it an amazing meeting that marked a fantastic new beginning in US China relations, US President Donald Trump on Thursday announced a sweeping set of economic and trade understandings with Chinese President Xi Jinping. Trump declared that a lot of decisions were made and that conclusions on very important things would be released soon.
I wouldn’t say everything was discussed, Trump told reporters with his trademark flourish. But it was an amazing meeting. We agreed that President Xi will work very hard to stop fentanyl, soybean purchases will start immediately, and tariffs on China will be lowered from 57% to 47%.
All the rare earth issue has been settled, Trump said, adding that “no more roadblocks” would impede the flow of Chinese exports to the United States.
In another key announcement, Trump said he would roll back tariffs on Chinese goods by 10%, from 57% to 47%, calling it a gesture of good faith following what he described as a very constructive dialogue with Xi. Many very important points were agreed upon, Trump said. We’re in agreement on so many elements and I think we’ll be providing conclusions on very important things shortly.
Trump also said Xi had pledged to intensify efforts to curb fentanyl production, a recurring flashpoint between Washington and Beijing, which US officials blame for fuelling America’s opioid crisis. As you know, I put a 20% tariff on China because of the fentanyl coming in, which is a big tariff, Trump told reporters aboard Air Force One after leaving South Korea. “I reduced it by 10% so it’s 10% instead of 20% effective immediately.
Trump met Xi in the South Korean port city of Busan for what he described as a truly incredible session between the leaders of the world’s two largest economies. Overall, on a scale from zero to ten, the meeting was a twelve, Trump told reporters aboard Air Force One after departing South Korea.
Very importantly, you know, just the whole relationship is very, very important, and I think it was really good, he added, calling Xi a great leader. The Busan meeting marks the first face-to-face encounter between Trump and Xi since both leaders returned to power this year, and it appears to have opened a path toward a temporary thaw in relations strained by trade disputes, military brinkmanship, and mutual suspicion.
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