Trump called the meeting with Xi “extraordinary” and reduced Chinese tariffs – Mehr News Agency | RCO News Agency

According to RCO News Agency, quoted by Reuters, after meeting with Xi Jinping, his Chinese counterpart in South Korea, US President Donald Trump announced that in exchange for Beijing resuming the purchase of American soybeans, continuing the export of rare minerals and fighting the illegal trade of fentanyl, he has agreed to reduce the tariffs imposed on China to 47%.

Trump’s comments came after face-to-face talks with Xi Jinping in the South Korean city of Busan. This was their first meeting since 2019 and it was the turning point of his buzzing Asian tour; A trip during which he highlighted the commercial achievements with South Korea, Japan and Southeast Asian countries.

“I think it was a wonderful meeting,” Trump told reporters aboard Air Force One shortly after leaving Busan. Tariffs on Chinese imports will be reduced from 57% to 47%.

As Trump hinted at the details of the deal, global stock markets saw sharp volatility, with major Asian indexes and European futures swinging between gains and losses.

The meeting, which was held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, lasted nearly two hours. Trump shook Xi’s hand and escorted him to his car before heading to Washington in person escorted by South Korean officials on the red carpet.