Trump cuts China tariff after Xi signals tougher fentanyl enforcement, rare-earth pause

Chinese leader Xi Jinping said 'it is normal for the two leading economies of the world to have frictions now and then'

Landon Mikon /  Fox News  

President Donald Trump on Thursday said he will cut tariffs on Chinese imports after a highly-anticipated meeting with Chinese President Xi Jinping in South Korea, citing new understandings on fentanyl enforcement, farm trade, and a pause on rare-earth export limits. 

The meeting in the City of Busan marked the final stop of Trump’s Asia trip, which also included stops in Malaysia and Japan, and focused on cooling the economic standoff between Washington and Beijing. 

Since returning to the White House in January, Trump has levied major tariffs on Chinese imports – a move that prompted Beijing to tighten its control over exports of rare earth elements. Both leaders signaled interest in reducing tensions to avoid further shocks to the global economy.

Ahead of Thursday's summit, U.S. and Chinese aides...Read more and see video here.