SEOUL, October 30 — U.S. President Donald Trump on Wednesday announced a 10 per cent reduction in tariffs on Chinese imports after meeting Chinese President Xi Jinping in South Korea, saying the decision came following discussions on joint efforts to curb fentanyl trafficking.
Trump told reporters that he would reduce the tariff rate on Chinese goods from the existing 57 per cent to 47 per cent. “After a very good conversation with President Xi, I’ve decided to bring the rate down,” he said.
The two leaders met amid ongoing tensions over trade, technology and the flow of fentanyl into the United States. Trump described the talks as “constructive,” noting that both sides agreed to strengthen cooperation against synthetic drug trafficking.
Ahead of the meeting, Trump had threatened to sharply raise tariffs — potentially doubling them — if China failed to take stronger action on the issue. “I was ready to go through with that plan,” Trump said, “but after today’s meeting, I don’t think it’s necessary.”
The decision marks a rare easing in the trade pressure between Washington and Beijing, which have been locked in tariff disputes since Trump’s earlier term in office.
