Thaw in trade ties: Trump announces cut in tariffs on China to 47% after meeting Xi; fentanyl-linked duties lowered to 10%

US President Trump and Chinese President Xi Jinping held crucial talks, leading to tariff reductions on Chinese goods and fentanyl. China will immediately resume significant soybean purchases, signaling a potential turning point in trade relations. Trump expressed optimism, rating the meeting highly and hinting at a diplomatic reset with a future visit to China.