Meeting for 90 minutes at an airport in Busan, President Trump and China’s Xi Jinping agreed to a yearlong truce that rolls back tariffs and retaliatory steps. Trump said he will halve a punitive 20 percent duty imposed this year, trimming overall tariffs on many Chinese goods to about 45 percent from 55 percent, while China will suspend new rare earth curbs for a year. The U.S. will postpone port fees on Chinese-linked ships, and China will resume large soybean purchases. Trump did not rule out some Nvidia AI chip sales. Underlying tensions remain, an analyst noted.

Prepared by Christopher Adams and reviewed by editorial team.