US President Donald Trump has announced that he will reduce the 20% fentanyl-linked tariffs imposed on China, a move seen as a concession to Beijing in their trade talks. Speaking on Air Force One on Wednesday, Trump said he expected to lower the tariff as a way to pressure China into stopping the export of precursor chemicals used to make synthetic opioids, which have fueled the opioid crisis in the US.
Trump's comments came after the two countries signed a framework for a trade deal that will be signed by both leaders when they meet tomorrow in South Korea. The US president said he believed the Chinese government could help reduce fentanyl-related deaths and announced that the country would begin talks with China on using Nvidia's Blackwell AI processor.
Trump also expressed his optimism about the deal, saying it would be a "great deal for both" nations and calling the chip "super duper". He told corporate leaders at the Asia-Pacific Economic Cooperation summit: "The world is watching, and I think we'll have something that's very exciting for everybody."
The Wall Street Journal reported yesterday that Trump was considering cutting the 20% tariff on Chinese goods to as low as 10%. The announcement comes ahead of a meeting between Trump and Chinese President Xi Jinping tomorrow in South Korea.
Chinese officials have drawn up the framework for the trade deal, which includes provisions to reduce fentanyl-related deaths. The US and China agreed to a deal in August under which Seoul would avoid the worst of the tariffs by agreeing to pump $350bn of new investments into the US.
The news has boosted Asian stock markets, with Japan's Nikkei jumping by 2.2%, South Korea's up 1.76%, and the Shanghai and Shenzhen exchanges gaining 0.7% and nearly 2% respectively.
State-owned COFCO has bought three US soybean cargoes ahead of the meeting between Trump and Xi tomorrow, according to Reuters. The lack of Chinese buying has cost American farmers billions of dollars in lost sales.
Trump's comments came after the two countries signed a framework for a trade deal that will be signed by both leaders when they meet tomorrow in South Korea. The US president said he believed the Chinese government could help reduce fentanyl-related deaths and announced that the country would begin talks with China on using Nvidia's Blackwell AI processor.
Trump also expressed his optimism about the deal, saying it would be a "great deal for both" nations and calling the chip "super duper". He told corporate leaders at the Asia-Pacific Economic Cooperation summit: "The world is watching, and I think we'll have something that's very exciting for everybody."
The Wall Street Journal reported yesterday that Trump was considering cutting the 20% tariff on Chinese goods to as low as 10%. The announcement comes ahead of a meeting between Trump and Chinese President Xi Jinping tomorrow in South Korea.
Chinese officials have drawn up the framework for the trade deal, which includes provisions to reduce fentanyl-related deaths. The US and China agreed to a deal in August under which Seoul would avoid the worst of the tariffs by agreeing to pump $350bn of new investments into the US.
The news has boosted Asian stock markets, with Japan's Nikkei jumping by 2.2%, South Korea's up 1.76%, and the Shanghai and Shenzhen exchanges gaining 0.7% and nearly 2% respectively.
State-owned COFCO has bought three US soybean cargoes ahead of the meeting between Trump and Xi tomorrow, according to Reuters. The lack of Chinese buying has cost American farmers billions of dollars in lost sales.
So Trump is talking about cutting those tariffs because China's got some "good vibes" about stopping that fentanyl mess 
But let's be real, it's gonna take more than a handshake to fix the opioid crisis 
Those Chinese officials are just playing along, it's like they're waiting for us to drop our guard 
Still, if it means less tariffs on soybeans and other US exports, I'm down for that 
It's all about economics at the end of the day 
why are they making such a big deal about lowering tariffs on fentanyl-related stuff? Like, isn't that just gonna make things worse for the opioid crisis in the US? 
And what's up with Nvidia's Blackwell AI processor? Is that even relevant to trade talks? 
. Maybe this deal will actually make some progress and not just be some empty promises 
. Fingers crossed! 
Im not sure if I trust this sudden change of heart from Trump on those fentanyl-related tariffs... sources say China's been playing a double game all along, using trade deals as leverage while secretly fueling the opioid crisis 
. I mean, China's already been taking it on the chin with all those tariffs and whatnot. It's like, can't we just chill and have some nice, friendly trade talks? 
. Trump's optimism is kinda infectious too – I'm rooting for him to make some magic happen.
. Fingers crossed!
. But, for real, if cutting tariffs means more good vibes on the trade front, I'm not mad at it 
. The deal between the US and China seems legit, especially with Nvidia's AI processor coming into play 
. Trump's optimism is refreshing 
.
, though. That's some harsh reality check 
. Anyways, fingers crossed this trade deal brings about some positive change 
and not just for China, but for the world at large 
.
IT'S LIKE TRUMP IS GIVING CHINA A BREAK WITHOUT FIXING THE PROBLEM THAT CAUSES THE TARIFFS IN THE FIRST PLACE 
.
china is looking good right now 
if trump's tariffs come down it could be big win for american businesses 
hopefully this trade deal can help reduce those numbers #ChinaUSTradeTalks 
I'm low-key freaking out over this news!!! 
Trump is actually going to reduce the fentanyl-linked tariffs on China?!?! 
This is, like, a huge concession to Beijing and could potentially be a game-changer for trade talks between the two countries! 
And now it seems like Trump is actually willing to cut those tariffs, which could help bring some relief to American farmers who've lost billions of dollars due to Chinese lack of buying 
] so trump's gonna lower tariffs on china? that's a big deal! 
trump's optimism about this deal seems legit, fingers crossed it actually works out 
