Home » Trump cuts China tariff after Xi signals tougher fentanyl enforcement, rare-earth pause

Trump cuts China tariff after Xi signals tougher fentanyl enforcement, rare-earth pause

U.S. President Donald Trump met face-to-face with Chinese leader Xi Jinping on Thursday in an attempt to resolve the ongoing trade disputes between the two sides.

U.S.PresidentDonaldTrumponThursdaymetface-to-facewithChineseleaderXiJinpinginBusan,SouthKorea–justhoursafterTrumphintedonlineatpotentialshiftsinU.S.defenseandtradepolicy.  ThemeetingmarkedthefinalstopofTrump’sAsiatrip,whichalsoincludedstopsinMalaysiaandJapan,andfocusedoncoolingtheeconomicstandoffbetweenWashingtonandBeijing.  SincereturningtotheWhiteHouseinJanuary,TrumphasleviedmajortariffsonChineseimports–amovethatpromptedBeijingtotightenitscontroloverexportsofrareearthelements.Bothleaderssignaledinterestinreducingtensionstoavoidfurthershockstotheglobaleconomy.  AheadofThursday’ssummit,U.S.andChineseaidessignaledthediscussionwouldcenterontariffs,advancedtechnologyexports,andsupplychaincompetition–keystickingpointsthathavelongdefinedtherelationshipbetweenthetwopowers.Trumptoldreportershebelievedthetwosidescouldreachcommonground.