SEOUL, October 30 — U.S. President Donald Trump announced a 10 per cent cut in tariffs on Chinese goods following a meeting with Chinese leader Xi Jinping in South Korea, saying the talks produced “positive movement” on cooperation to stem fentanyl trafficking.
Speaking to reporters after the meeting, Trump said he decided to reduce the existing 57 per cent tariff rate to 47 per cent. “We had a very good discussion with President Xi, particularly on fentanyl. I’ve decided to cut the tariff rate,” he said.
Before the talks, Trump had warned of a potential 100 per cent tariff increase on Chinese imports if Beijing failed to act decisively against fentanyl production and exports. “That won’t be necessary now,” he told reporters, describing the meeting as “productive and respectful.”
The announcement signals a rare moment of easing between the two countries after years of trade tensions and mutual tariff escalations. The White House did not immediately release details of any broader trade or enforcement agreements.
Trump’s comments came as both leaders attended regional talks in Seoul, their first in-person interaction in months. Officials from both sides said they planned to continue dialogue on economic cooperation and drug enforcement measures.
