Trump Announces Immediate 10% Tariff Cut on Chinese Goods

U.S. President Donald Trump announced on Thursday that tariffs on Chinese goods will be lowered by 10 percentage points, decreasing from 57% to 47%, following his meeting with Chinese President Xi Jinping in South Korea. Trump stated that the revised tariffs take effect immediately. He also revealed that the tariff rate on fentanyl imports from China will be cut in half, from 20% to 10%