&imwidth=800&imheight=600&format=webp&quality=medium "Meeting with Xi will bring 'everlasting peace': US, China de-escalate trade tension, suspend retaliatory tariffs")
United States President Donald Trump on Sunday (Nov 2) hailed the meeting with his Chinese counterpart Xi Jinping as "great one". He said that the meeting "will lead to everlasting peace and success" between both the countries. In a post on Truth Social, Trump said, "My G2 meeting with President Xi of China was a great one for both of our countries. This meeting will lead to everlasting peace and success. God bless both China and the USA!"
The US President during his meeting with President Jinping on the sidelines of the APEC Summit in Busan, South Korea on October 30 announced a trade and economic deal with China and agreed to suspend retaliatory measures in terms of trade tariffs taken over the past six months.
US tariffs on Chinese imports were slashed from 57 per cent to 47 per cent in a landmark one-year trade pact after China agreed to take "strong action" on the fentanyl issue.
"We reduced it by the fentanyl because I believe they are really taking strong action. We've already seen the action on fentanyl, and they're taking very strong action. So reduced to 10 per cent," said Trump.
As Trump boarded the Air Force One, after the summit the US President said "We have a deal," referring to the trade pact.
"Every year we'll renegotiate the deal, but I think the deal will go on for a long time, long beyond the year. We'll negotiate at the end of the year," he added.
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Trump also announced that China has agreed to immediately purchase "large and tremendous amounts" of soybeans and other US farm products under the new pact.
"We're in agreement on so many elements. Large amounts, tremendous amounts of the soybeans and other farm products are going to be purchased, starting immediately," said Trump.
