Trump And Xi Reach One-Year Trade Truce, Offering Relief Amid Ongoing U.S.-China Economic Tensions

Benzinga

President Trump and China’s Xi Jinping reached a one-year truce in their trade dispute, agreeing to tariff cuts and relaxed export restrictions in exchange for cooperation on fentanyl and major U.S. soybean purchases. The deal provides short-term economic relief but leaves deeper trade and tech tensions unresolved.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Trump and Chinese leader Xi Jinping agreed to a one-year truce in their trade conflict

00:06after the first meeting in six years, according to the Wall Street Journal.

00:10He lowers tariffs and eases export restrictions in exchange for cooperation

00:13on fentanyl chemicals in U.S. soybean purchases, according to multiple reports.

00:18Trump said the U.S. will cut tariffs on Chinese imports by 10 percent to 47 percent

00:22in exchange for China's pledge to curb chemicals used to make fentanyl.

00:26China agreed to ease rare-earth export controls for one year and purchase large quantities of U.S. soybeans,

00:32providing relief to American farmers.

00:33U.S. and China agreed to a one-year pause on new export restrictions and reciprocal port fees

00:38about South Korea's $150 billion investment in American shipbuilding.

00:42Analysts said the deal offers short-term relief, but stops short of addressing deeper divisions

00:46over trade, technology, and global economic dominance.

00:49For all things money, visit Benzinga.com.

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