Trump, Xi Reach Agreements on Rare Earth Exports
(MENAFN) US President Donald Trump announced Thursday that Chinese leader Xi Jinping had consented, during their much-anticipated bilateral meeting, not to enforce rare earth export restrictions that had unsettled global financial markets and led to warnings of retaliation from the American president.
According to Trump, he and Xi achieved an "outstanding group of decisions" during their talks in South Korea, one of which involved Xi’s choice to reverse the rare earth export limitations.
Trump further stated that he planned to ease some of the tariffs previously placed on Beijing regarding the illegal movement of fentanyl, following Xi’s commitment to intensify efforts to curb the drug trade.
"I guess on the scale from zero to 10, with 10 being the best, I would say the meeting was a 12," Trump told journalists aboard Air Force One after leaving South Korea. "A lot of decisions were made there wasn't too much left out there."
Although the White House has not yet issued an official summary of the discussion, Trump confirmed that he would cut the fentanyl-related tariffs introduced in February from 20% to 10%, since Xi vowed "to work very hard to stop the death that's coming in."
"But again, it's complex because of what fentanyl is, what the precursors do. So, I think you're going to see a big difference," Trump added.
"He's going to be very strong in enforcing the fentanyl, everything having to do with fentanyl and regulations internally, including taking very strong measures against those that don't obey."
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