US President Donald Trump today said that tariffs on China will be reduced to 47 per cent from the current 57 per cent. Trump, after his meeting with Chinese President Xi Jinping in the South Korean city of Busan, said that China will begin buying soybeans from the US immediately. He also said that the rare earth issue has been settled and that there will be no more roadblocks on rare earth exports from China. Trump also said that the fentanyl tariffs on China will now be reduced to 10 per cent from 20 per cent. Trump had earlier imposed a 20 per cent tariff on Chinese goods over fentanyl as a measure to curb the flow of chemical ingredients for the drug into the US.
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