Trump cuts fentanyl tariffs on China to 10% after ‘amazing meeting’ with Xi

Trump earlier imposed a 20 per cent tariff on Chinese goods over fentanyl as a measure to curb the flow of chemical ingredients for the drug into the United States. Speaking to reporters aboard Air Force One, Trump announced his decision to cut the tariffs down to 10 per cent and said, “I believe he’s going to work very hard to stop the death that’s coming in.”

The two leaders met in Busan on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju. Trump also said that a dispute between China and the United States had been “settled”.

Additionally, he said that the deal with China on the supply of crucial rare earths is a one-year extendable agreement. “All the rare earths has been settled, and that’s for the world,” Trump told reporters, adding that the deal would be re-negotiated annually.

Further, Trump said that he and Xi agreed to “work together” on the issue of resolving the war in Ukraine. “Ukraine came up very strongly. We talked about it for a long time, and we are both going to work together to see if we can get something,” he stated.

Trump added that the Chinese President is going to help the US and work together on Ukraine.

Calling his meeting with Xi Jinping a “great success”, Trump told reporters that he will visit China in April 2026.