US President Donald Trump said a full US-China trade deal will be signed “pretty soon” following a meeting with Chinese President Xi Jinping in South Korea.
A series of announcements on closer trade ties have been made, including the US cutting the “fentanyl tariff” on Chinese goods entering the US from 20% to 10%.
In return, China will start “the purchase of massive amounts of soybeans, sorghum, and other farm products”, Trump says.
China says it will make it easier for the US to buy rare earths and that, in return, the US will suspend an expansion of export controls on foreign firms listed on the Entity List, which had hit Chinese companies.
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