U.S. President Donald Trump said on Thursday he had agreed to cut tariffs on Chinese goods to 47% following what he called an “amazing” meeting with President Xi Jinping , in return for China resuming purchases of U.S. soybeans, continuing rare earth exports , and curbing fentanyl trafficking.

His remarks after face-to-face talks with Chinese President Xi Jinping in the South Korean city of Busan, their first since 2019, marked the finale of Trump’s whirlwind Asia trip on which he also touted trade breakthroughs with South Korea, Japan and Southeast Asian nations.

“I thought it was an amazing meeting,” Trump told reporters aboard Air Force One shortly after he departed Busan, adding that tariffs imposed on Chinese imports would be cut to 47% from 57%.

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