Deal between the US and China is undoing damage from a self-inflicted trade war
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After meeting Xi, Trump said the United States would reduce fentanyl-related tariffs on Chinese goods from 20% to 10%, while U.S. officials announced Chinese commitments on rare-earth exports and soybean purchases; Associated Press cautioned that several terms were temporary or unconfirmed and largely unwound prior escalation.
Announced tariff, rare-earth, and soybean terms; AP implementation caveatsTrump announces tariff cuts and Chinese purchase commitments after Xi meeting · Terms announced; performance not assumed · reviewed 2026-09-03