BUSINESS

Trump and Xi, Hoping to Ease Trade War, Agree to 1-Year Truce

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.

Reviewed by JQJO team

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