Trump to cut tariffs on China after meeting with Xi Jinping
Trump to cut tariffs on China after meeting with Xi Jinping I'm pumping his fist and mouth. Thank you. As he returns to Washington after the Asia storm. And a high
Likelihood of meeting with China's Xi Jinping. It was a wonderful meeting. He's a great leader. Aboard Air Force 1,
The president announced that Beijing would work to stem the flow of fentanyl, cutting Chinese.
Imports by 10%. I think you can see that some real action has been taken there. China also agreed to buy 12 million metric tons of soybeans by the end of the year.
25 per year through 2028. But farmers are wary. This is not a barrel-head cash cow. The
Soybeans have not yet been delivered. Beijing also announced that it would freeze export limits on rare-earth minerals for a year. But there has been no major progress in stopping China from stealing intellectual property.
And despite the long talk about Ukraine, the president has not pressured Xi to stop buying Russian oil. We’re just working to see if we can get it.
Or end Trump flirting with true social. A potential energy deal where China could trade oil and gas from Alaska on a large scale. Some economists are calling the meeting a truce, a departure from the Phase 1 deal in 2020 that China walked away from when Joe Biden took office.
Although Beijing. Has not been on track to fulfill its obligation. Even if Trump stays, it’s a fluke, both sides claim victory, and President Trump says plans are already underway for him to visit China in early April.
The plan is to bring Xi to the United States after that. And that visit could take place here at the White House.
At home or even at Mar-a-Lago in Florida. At the White House. I’m
Aisha.Hussny Fox News. In-depth reporting by Aisha Huth. We always appreciate it,
We sent it to you, along with President Trump and President XII, and Press Secretary Caroline Levitt. Oh, of course,
Trump shaves China tariffs in deal with Xi on fentanyl, rare earths.
The US is going to cut tariffs on Chinese imports from 57 to 47 percent. The tariffs are tied to fentanyl. Fentanyl will be cut from 20 to 10 percent. China agrees to allow exports of rare earth minerals,
China's green will start buying soybeans from us. Treasury Secretary Scott Besson said China has also approved the TikTok deal. And Trump says he will visit China in April.
President Xi says after visiting the US soon, see the white live.
The house where it's about 10:00 on the nose. The standby is Dave Hiebert.
He'suh, with a i e r, We always like to do the American Institute's Foreign Economic Research on He'shere with me. I mentioned in his report that both sides had a positive view of the deal.
From a third-party perspective. Both sides got what they wanted. So, I think. That video package word, de-escalation, was perfect.
Is the summary of this deal is it a real victory in that sense?
Both sides can walk away saying that they were? Were they better than them? Say in 2024? I think they are. The answer is a
Clearly not, we have some pretty solid deals. The fentanyl deal, for example, is very important. The key component of that. So it's an escalation. It's the first step on the path to victory,
But at the moment, there's frustration and hope. Does it look like the US and China are leaving on good terms?
As they're leaving South Korea?
It seemed like they were going on very good terms, but again, I really want to echo that sentiment.
Recall that in 2024, the tariff rate for both countries was. It was about 20%. The US tariff on China worked out, 19.8%. And the Chinese tariff on the US was 20.1%. Today.
Trump and Xi reach trade deal, easing tensions in fierce US-China rivalry.
They are now at 47% for the US tariffs on China and 32.6%. For the Chinese tariffs on the US. This is an increase in trade.
Sanctions are not a total reduction. So, the President said that Xi has agreed to start buying soybeans and other agricultural goods from us immediately.
And that China will work. Very hard, as you mentioned, blocking fentanyl.
By entering the US. Soybeans, Dave, why are soybeans so important? Yes, in that. Look, soybeans are incredible.
Important crop for America's incredible farming sector, and the reason for that is quite simple. They grow fast. Given their high profitability, we have subsidized their production for a long time,
And pushed people. And farmers, obviously. In growing beans, and so when the largest customer of soybeans in the world decides to produce its own soybeans, it takes a huge hit.
Our farmers are going to be a Hasa farm, not just here in Michigan, where I am, but everywhere in the Midwest, everywhere in the West.
Growing soybeans at some point. So getting China back on board to buy those soybeans is important.
Those farmers. It's also important to Trump's agenda with tariff revenue, where he says he's going to start sending checks to the American people.
Paying off the national debt, but at some point, the promised 40 to 80 percent. All tariff revenue.
Trump cuts tariffs on China after meeting Xi in South Korea.
This is a huge victory for the administration, so how can this happen? Tariff cuts? Does it affect us? Importers, us consumers, and domestic. Manufacturers that use all the Chinese goods. How will this affect the average person? Okay. So
Look, what we've seen out of the Yale Budget Lab of the Harvard Pricing Lab is a consistent story. The higher the tariffs in the United States, the higher the prices will be and the faster they will go up.
We're also seeing reports out of the Federal Reserve. From the Boston Fed, in their gray book that summarizes the economic outlook for each Fed district. And what they're saying is
That each district is seeing American consumers pass through the tariffs. So, when you can reduce those tariffs at least relative to what they were a week ago. That's a win for the American people.
It's a win for American producers. It's a win for American households. All of them, depending on. Many different supply chains
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Or in this case? They have a historical precedent for something like the drug precursor fentanyl. To my knowledge. There's not much historical precedent for using tariffs to combat drugs. There's an import.
Obviously, an example of using tariffs to restrict the import of other goods, but we've never really seen one. Someone would propose a tariff that you know.w
Made of steel and aluminum, and so on. To influence another country to step up its game.
Trump cuts fentanyl tariffs on China to 10% as Beijing delays latest rare earths curbs by a year.
Fentanyl, so this is unusual surface water. It's a little bit strange to think that we're going to target one specific thing, like reducing the import of fentanyl. When there's an indirect route, it seems to me that there should be a more direct route to it.
It's going to be a really wild and interesting story to get to that. Well, just the people at the American Institute for Economic Research always go.
But apparently not, at least according to the president, or who knows? Maybe he just wants to see
Tariffs imposed, and that's the justification he can give, so Trump invites Mr. Ji to meet in April and then some. Point, Trump, to visit China. On the date beyond that, he says What are we looking at in the immediate term and
What are we looking at between now and April? What are the next chapters in this? US-China economic trade talks. You know, if we've learned 1 thing about these 2 countries in the last 8 months or so.
It's that things can change on the fly. Remember, we've had a lot of ceasefires in this trade war. We've had a lot of
