Trump and Xi Jinping Announce Trade Agreements, Tariff Reductions; President Orders First Nuclear Test Since 1992
President Trump and Chinese leader Xi Jinping met in South Korea, reaching agreements on fentanyl tariffs, rare earth exports, and agricultural purchases, despite no formal trade deal.
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Overview
- President Trump and Chinese President Xi Jinping held their first face-to-face meeting in six years in South Korea, lasting 100 minutes to address significant trade tensions.
- The US reduced fentanyl-related tariffs from 20% to 10%, while China agreed to delay restrictions on rare earth exports for one year, following commitments.
- China committed to immediately resuming significant purchases of US soybeans and other agricultural products, a key outcome from the discussions in South Korea.
- President Trump announced a broader reduction in average tariffs on Chinese goods from 57.6% to 47%, though no formal trade deal was reached.
- Trump praised the meeting as "amazing," rating it 12 out of 10, while also ordering the first US nuclear test since 1992.
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Analysis
Center-leaning sources cover the Trump-Xi meeting neutrally, focusing on reporting the outcomes and omissions without overt editorial bias. They present Trump's positive assessment alongside factual details of agreements on fentanyl, rare earths, and soybeans. Crucially, they also highlight significant issues like Taiwan and TikTok that were not discussed, providing a balanced and comprehensive overview.
"Beijing agreed to push off planned export controls on some rare earths in exchange for a reduction in US tariffs."
Semafor"Thursday's agreement is still a breakthrough."
BBC News"Trump announced the U.S. would lower the 20% tariffs to 10% because China has committed to doing more to curb exports of ingredients for fentanyl."
NPR"Trump said that a deal could be signed 'pretty soon' and that there were 'not too many major stumbling blocks.'"
NBC News"Trump’s decision to skip APEC fits with his well-known disdain for the big, multi-nation forums that have been traditionally used to address huge global problems, and his relish of the kind of one-on-one diplomacy that can result in big deals, or at least interesting headlines."
Associated Press"Trump's trade war had set off tit-for-tat tariffs that shot past 100% on both sides, but they agreed to a truce in May - although tensions remained high."
BBC News"Overall, Trump said the meeting with Xi in South Korea was "amazing," and on a scale of 1 to 10 gave it a 12."
ABC News"Trump rated his meeting with Xi as a '12 out of 10,' highlighting the friendly nature of their discussions and the significant agreements reached."
NPR"Trump said he reached an agreement with Chinese President Xi Jinping on soybean purchases, fentanyl precursors, and rare earth exports, paving the way for a finalized trade deal to be signed "pretty soon" that he said would last for at least a year and result in an immediate reduction in tariffs."
USA TODAY"Trump said he has made deals with China after meeting Chinese leader Xi Jinping on Thursday, the final day of a trip to Asia that was an opportunity for the leaders of the world’s two largest economies to stabilize relations after months of turmoil over trade issues."
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FAQ
The meeting resulted in several key agreements: the U.S. reduced tariffs on Chinese goods from 20% to 10%, China agreed to delay restrictions on rare earth exports for a year, and China committed to resuming significant purchases of U.S. soybeans and other agricultural products. Additionally, the U.S. reduced overall tariffs on Chinese goods from about 57.6% to 47%.
The article does not provide specific reasons for President Trump's decision to order the first U.S. nuclear test since 1992. It only mentions the order in the context of other significant events.
Rare earth export restrictions were a significant point of contention between the U.S. and China. China's decision to delay these restrictions for a year was crucial in easing trade tensions, as rare earths are vital for tech manufacturing.
History
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