Trump says will lower China tariffs by 10% after ‘amazing’ meeting with Xi Jinping
October 30, 2025 10:32 am
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, including a 10% reduction in tariffs, a resumption of soybean purchases, and a breakthrough on the contentious issue of rare earth exports.
Speaking after more than two hours of closed-door talks with Xi in Busan, 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%.”
-Agencies
