In a move signalling a potential thaw in US–China trade tensions, President Donald Trump on Thursday announced a 10% reduction in tariffs on Chinese imports, calling it a “gesture of good faith” following what he described as an “amazing” meeting with Chinese President Xi Jinping in Busan.

Trump said the decision came after more than two hours of closed-door talks with Xi, where both sides reached a series of economic and trade understandings. “China will immediately start buying soybeans again. That’s a big win for our farmers,” Trump told reporters. “The trade relationship is going to look very different now.” Advertisement

Tariff rollback aims to reset strained trade ties

The tariff reduction, from 57% to 47%, marks the first major rollback since Washington imposed steep duties on C

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