US-China Trade Talks Result in Tariff Cuts and Agreements on Fentanyl, Rare Earths, and Soybean Purchases

During a meeting between President Trump and President Xi Jinping in South Korea, several agreements were reached including a cut in tariffs on both sides. The US announced a reduction in tariffs on Chinese goods to 47%, while China lowered duties on fentanyl to 10%. Additionally, a one-year deal on rare earths was signed between the two countries. The meeting aimed to ease trade tensions and move towards a more positive direction in the US-China relationship.

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