US President Donald Trump said the United States would immediately reduce tariffs on Chinese goods related to fentanyl from 20% to 10%. The decision was the result of his meeting with Chinese leader Xi Jinping in South Korea, which he called “amazing”. Trump told reporters aboard Air Force One.
According to the US president, he agreed to the tariff reduction “because I believe they are really taking strong action”. Trump added that Xi Jinping “will work very hard to stop the flow” of fentanyl into the US. Beijing had previously demanded the removal of 20% tariffs on the goods, while Trump had expected concessions from China on precursor chemicals.
In addition, Trump announced a number of other agreements. China will “immediately” begin large-scale purchases of American soybeans and other agricultural products. A one-year agreement was also reached on rare earth minerals, which, according to the US president, will most likely be extended. The agreement stipulates that China will “not impose any barriers” and “not impose controls” on the export of these materials, which are important for technological production.
Assessing the summit, Trump said that he and Xi “reached conclusions on many very important issues”, and assessed the meeting on “12” on a scale of 10:
“But overall, I think on a scale of zero to 10, where 10 is the best, I would say the meeting was at 12. I think it was at 12”.
The US president also noted that he had agreed with Xi Jinping to visit China:
“I will go to China in April, and he will come here sometime after that, whether it is Florida, Palm Beach, or Washington, D.C.”.
