Trump, Xi Strike One-Year Trade Pact Cutting Tariffs And Restoring U.S. Market Access

Benzinga

Trump and China’s Xi Jinping reached a one-year trade deal cutting tariffs and reopening U.S. access to key Chinese markets. The agreement includes major soybean purchases and a pause on rare earth restrictions, offering temporary relief to U.S. farmers while broader trade tensions remain unresolved.

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

00:02Trump and Chinese President Xi Jinping reached a one-year trade agreement Thursday to ease tariffs

00:07and restore U.S. access to key Chinese markets, according to ABC News. The deal lowers tariffs

00:14on Chinese imports from 57% to 47% and pauses planned Chinese restrictions on rare earth

00:21minerals crucial to U.S. manufacturing. China agreed to buy 12 million metric tons of soybeans

00:27this year and 25 million metric tons annually for the next three years, easing pressure

00:33on U.S. farmers. The agreement follows reports that Beijing may approve the U.S.-led TikTok

00:38divestiture in the coming weeks. Analysts said the truce marks a temporary easing of tensions

00:44but warned its durability depends on future negotiations. For all things money, visit Benzinga.com.

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