News Summary

• President Donald Trump and Chinese leader Xi Jinping met face-to-face on Thursday in South Korea.
• Tensions between the world’s two largest economies have soared since Trump returned to office for a second term, and hiked import tariffs.
• Trump said he would lower tariffs implemented earlier this year as punishment on China for its selling of chemicals used to make fentanyl from 20% to 10%.
• That brings the total combined tariff rate on China down from 57% to 47%“I guess on the scale from 0 to 10, with ten being the best, I would say the meeting was a 12,” Trump said.