Happy Trump cuts tariffs on China post Xi meet

President Donald Trump described his face-to-face with Chinese leader Xi Jinpingon Thursday asa roaring success, saying he would cut tariffs on China, while Beijing had agreed to allow the export ofrare earth elements and start buying American soybeans.

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The President told reporters aboard Air Force One that the US would lower tariffs, implemented earlier this year as punishment on China for its selling of chemicals used to make fentanyl, from 20 per cent to10 percent. That brings the total combined tariff rate on China down from 57 per cent to 47 per cent,"I guess on the scale from 0 to 10, with ten being the best, I would say the meeting wasa 12,” Trump said.

“I think it was a 12” Trump said that he would go to China in April and Xi would come to the US “some time after that.’ The president said they also discussed the export of more advanced computer chips to China, saying that Nvidia would beintalks with Chinese officials.