The United States will cut tariffs on Chinese imports to 47 per cent from 57 per cent under a new agreement that includes Beijing resuming US soybean purchases, maintaining rare earth exports, and curbing the illicit fentanyl trade. The deal was reached during a meeting between US President Donald Trump and Chinese President Xi Jinping in Busan, South Korea, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. It marks the first direct talks between the leaders since 2019 and aims to ease tensions in the long-running trade dispute that has disrupted global supply chains. Global markets fluctuated following the announcement, with major Asian and European indexes swinging between gains and losses and US soybean futures falling. Analysts warned that despite the breakthrough, questions remain about the longevity of the fragile truce between the two economic powers. Attribution: Reuters
