Trump, Xi agree on temporary trade truce

AWANI

Donald Trump and Xi Jinping wrapped up their highly-anticipated summit.  China will pause rare earth export limits for a year, while the U.S. halves fentanyl-linked tariffs on Chinese goods.

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00:00US President Donald Trump and Chinese President Xi Jinping appear to have agreed to a temporary

00:07trade truce following a one-and-a-half-hour meeting in South Korea.

00:12The deal rolls back several tariffs and retaliatory measures between the world's two largest economies.

00:18According to Trump, China will suspend some export limits on rare earth metals for a year.

00:24The US, meanwhile, will halve fentanyl-link tariffs on Chinese goods, cutting them from 20% to 10%,

00:32bringing down the overall levy on Chinese exports from 57% to 47%.

00:54It's 10% instead of 40% effective immediately.

00:59While China has agreed to delay the introduction of rare earth export controls,

01:03the pause effects rules announced on October 9,

01:06which expanded the country's export regime to include new materials.

01:10However, restrictions introduced in April remain in place.

01:14These still cover seven key rare earths,

01:17including magnets essential for automakers, defense firms and chip makers.

01:24the...

01:43the...

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