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Donald Trump Xi Jinping Meeting Live Updates: Trump reduces fentanyl tariff on China to 10% from 20%

Donald Trump Xi Jinping Meeting Live Updates: The face-to-face talks, their first since Trump’s return to office, come on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit.

Trump Xi meetingUS President Donald Trump, left, and Chinese President Xi Jinping shake hands before their meeting at Gimhae International Airport in Busan, South Korea, Oct 30. (AP Photo)

Trump-Xi trade deal live: The meeting between US President Donald Trump and Chinese President Xi Jinping has concluded, lasting longer than scheduled. It reportedly ran for one hour and forty minutes. The two leaders met in Busan, South Korea today to ease tensions after months of tariff threats and export restrictions that have unsettled global markets. Trump said he “could sign trade deal today”, and that the leaders “have already agreed to a lot of things,” as reported by Reuters. The face-to-face talks, their first since Trump’s return to office, come on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. According to AP, both leaders are seeking to prevent further economic fallout from their renewed trade war, which has seen China limit rare earth exports and Trump threaten 100 per cent tariffs on Chinese goods.

Conclusions of the meeting: US President Donald Trump said he has reduced the tariff on fentanyl from 20 per cent to 10 per cent following the meeting. He also stated that China will continue exporting rare earths. “There will be no roadblocks,” Trump said. He also announced that US tariffs imposed on China will be reduced by 10 percentage points, from 57 percent to 47 percent. The US president added that he will be visiting China again in April. Chinese President said that trade teams of both the nations will constantly narrow down list of problems and extend list of cooperation, state media reported, according to Reuters. He also said that there are good prospects for cooperation in the fields of combating illegal immigration, telecom fraud, and money laundering.

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