Trump cuts tarrif on China after meeting Xi Jinping

President Donald Trump said he has decided to lower his tariff rates on imports of Chinese goods to 47% after meeting face-to-face with Chinese leader Xi Jinping on Thursday, a chance for the leaders of the world’s two largest economies to stabilize relations after months of turmoil over trade issues.
Trump’s aggressive use of tariffs since returning to the White House for a second term combined with China’s retaliatory limits on exports of rare earth elements gave the meeting newfound urgency. There is a mutual recognition that neither side wants to risk blowing up the world economy in ways that could jeopardize their own country’s fortunes.
The meeting lasted a little over 100 minutes, with the two leaders shaking hands and Trump appearing to say something into Xi’s ear, just before the Chinese leader entered his own limousine. Trump was shortly back aboard Air Force One to return to Washington.
On board, he told reporters he decided to reduce the combined rate from 57% after successful talks that included promises by Xi to curb shipments of fentanyl ingredients to the U.S.