US and China agree to a tariff truce

HIGH-STAKES MEETING PRODUCES AGREEMENT ON FENTANYL, SOME TARIFFS, AND RARE EARTHS

- BY NIVETHA DAYANAND

Donald Trump and Xi Jinping interact as they arrive for talks in Busan yesterday.

(AFP)

The US and China moved to calm one of the world's biggest geopolitical and trade flashpoints, with both sides agreeing to scale back tariffs and secure critical supply lines following a high-stakes meeting in South Korea.

The agreement halted months of escalating tension and offered global markets a breather, although analysts stressed it remains a tactical pause rather than a lasting reset in relations.

US President Donald Trump and Chinese President Xi Jinping met for roughly 90 minutes in Busan and announced what Trump called an “amazing meeting” that produced a series of steps to ease trade pressure.