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May 10, 2026
US President Donald Trump on Thursday said that tariffs on Chinese goods will be reduced from 57 to 47per cent, following what he called an “amazing” meeting with Chinese President Xi Jinping in Busan, South Korea.
After the talks, Trump said that “a lot of decisions were made” and that both sides had reached several important understandings on trade and cooperation.
Speaking after more than two hours of closed-door talks with Xi in Busan, Trump said that “a lot of decisions were made” and that “conclusions on very important things” would be announced soon.
“I wouldn’t say everything was discussed,” Trump told reporters. “But it was an amazing meeting. We agreed that President Xi will work very hard to stop fentanyl, soybean purchases will start immediately, and tariffs on China will be lowered from 57 per cent to 47 per cent.”
