Name: Trump says China tariff down to 47% from 57% after meeting Xi
Uploaded: 2025-10-30T09:29:46.643Z
Duration: 2 min 5 s
Description: U.S. President Trump and Chinese President Xi wrapped up a high-stakes, highly-watched meeting in Busan, South Korea. Trump says China has agreed to make changes to its rare earths and fentanyl policies, and will begin buying U.S. soybeans right away.

U.S. President Trump and Chinese President Xi wrapped up a high-stakes, highly-watched meeting in Busan, South Korea. Trump says China has agreed to make changes to its rare earths and fentanyl policies, and will begin buying U.S. soybeans right away.

Busan

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

President Trump announced that tariffs on China will be reduced from 57% to 47% following a meeting with President Xi in Busan, South Korea. Trump described the meeting as 'amazing' and noted that several decisions were made, including China's commitment to resume soybean purchases and efforts to curb fentanyl flows.

The meeting marked the first in-person encounter between the two leaders since Trump's return to the White House and occurred amid ongoing global trade and security tensions. Trump also indicated plans to visit China in April, signaling ongoing diplomatic engagement between the two countries.

Trump says China tariff down to 47% from 57% after meeting Xi

Let me update you on some breaking news here. We've been tracking the meeting between President Trump and President Xi in Busan, South Korea. We have just heard some lines crossing via Reuters, President Trump saying that this meeting with Xi was, quote, amazing, and that a lot of decisions were made. He also said that China would begin to buy soybeans, quote, immediately. He also said that President Xi would work hard to stop the flow of fentanyl as well. And we're also seeing some fresh reports that they talked about chips too, but of course, apparently did not discuss Nvidia's Blackwell chips. So we'll continue to follow this developing news for you. This is, of course, the first in-person meeting between Trump and Xi since Trump returned to the White House. It also comes, as you know, during a time of heightened global tension over trade, technology, security. Coming into this meeting, we saw Trump calling Xi a tough negotiator, adding that that's not good. But he also struck an optimistic tone here, saying the two leaders know each other well, even hinted that a trade deal could be signed today. And we're now seeing reports that these tariffs could actually potentially be coming down as well. We mentioned that, of course, we could potentially see here the tariff rate down from 57% to 47%. So that would mean a 10% reduction there on these tariffs after this Trump and Xi meeting. So we'll be crunching the numbers for you. We'll continue to follow the breaking news as well. Trump also adding here that he is in fact going to be visiting China soon as next April. So of course, a lot of information now coming through about the ins and outs of this meeting and exactly what's happened on the ground. So it looks as if we have seen positive progress on the tariff reduction. That should be good news for markets. We'll track that for you. And of course, optimism now that the momentum around this relationship continues with Trump signaling that he will be visiting China at some point next year. That's the latest breaking news. We'll continue to keep you updated as the situation develops.

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Trump says China tariff down to 47% from 57% after meeting Xi

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