US President Donald Trump signed an order on Tuesday to lower fentanyl-related tariffs on Chinese products, formalising a key part of his deal with Chinese leader Xi Jinping after their first face-to-face talks in years.
Advertisement
Shortly after returning to the presidency this year, Trump imposed additional tariffs of 20 per cent on goods from China over its alleged role in the fentanyl supply chain.
But China has since committed efforts to halting the flow of precursors used to make fentanyl into the United States, after Trump and Xi’s summit last month in Busan, South Korea.
In turn, Washington pledged that it would cut its additional tariffs on Chinese imports from 20 per cent to 10 per cent, effective November 10.
Trump’s order on Tuesday formalises this agreement, although it said US officials will monitor China’s compliance with the deal.
‘We have a deal’: Trump claims breakthrough after ‘12 out of 10’ talks with Xi Jinping
‘We have a deal’: Trump claims breakthrough after ‘12 out of 10’ talks with Xi Jinping
The US president’s talks with Xi also yielded a slate of other agreements, including a further suspension of steeper tit-for-tat tariffs until November 10, 2026.