President Donald Trump is returning to Washington after meeting with Chinese President Xi Jinping. He spoke with reporters aboard Air Force One, announcing a reduction in tariffs and new trade agreements between the U.S. and China.

Trump said the U.S. will reduce tariffs on China, which were implemented earlier this year to penalize the country for selling chemicals used to make fentanyl.

The tariff rate will be lowered from 20% to 10%, reducing the total combined import tax on China from 57% to 47%.

Trump also announced that China would lift restrictions on rare earth exports, which had recently been limited , affecting U.S. and other foreign companies.

Additionally, Trump stated that China would immediately resume purchasing American soybeans, following a halt in buying from the

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