World · 30 October 2025
Trump and Xi strike one-year trade truce, rare-earth and tariff deal follows summit
At their summit in Busan, South Korea, Donald Trump and Xi Jinping agreed a one-year trade truce that eases long-running tensions. Washington will cut tariffs on Chinese goods — including reducing the fentanyl-linked tariff to 10 % — while Beijing will suspend export restrictions on rare earths and resume large American soybean purchases. The agreement includes plans for annual review and renegotiation of the trade terms.
Reported by Reuters · How we write briefs