"Trump met with Xi on the sidelines of Pacific Rim summit gatherings in South Korea, where the two leaders agreed to dial back some of their trade measures and work together to resolve others. The one hour and 40 minute meeting's agenda appears not to have touched on some perennial problems such as tensions over the self-governed island of Taiwan. But Trump said China had agreed to buy large quantities of American farm products and to ensure steady supplies of rare earths elements used in many industries."
"Trump told reporters while heading home on Air Force One that he had agreed to cut his 20% tariff increase, imposed over China's role in producing fentanyl and chemicals used to make it, to 10%. China confirmed that will take average tariffs on Chinese goods to 47%, down from 57%. The two sides agreed to continue to work on cracking down on illicit flows of the drug into the U.S."
"Trump said he discussed U.S. sales of computer chips to China. Trump and former President Joe Biden had imposed restrictions on access to the most advanced chips such as those used for artificial intelligence. China will speak with Silicon Valley chipmaker Nvidia about purchasing their computer chips, he said. That won't include its next-generation Blackwell AI chip, he said, "but a lot of the chips.""
U.S. and Chinese leaders met on the sidelines of a Pacific Rim summit and agreed to dial back some trade measures while working to resolve others. The meeting lasted one hour and 40 minutes and did not appear to address tensions over Taiwan. China agreed to buy large quantities of U.S. farm products and to ensure steady supplies of rare earth elements. The United States agreed to cut a planned 20% tariff increase to 10%, lowering average Chinese tariffs from 57% to 47%, and both sides committed to crack down on illicit fentanyl flows.
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