U.S. President Donald Trump called his meeting with Chinese President Xi Jinping 'amazing.'

U.S. President Donald Trump and Chinese leader Xi Jinping agreed to reduce tariffs and export restrictions Thursday, stepping back from a trade war that has roiled the global economy.

Speaking to reporters after an in-person meeting with Mr. Xi in the South Korean city of Busan, his first since 2019, Mr. Trump described the talks as “amazing,” ranking them “12 out of 10.”

He said the U.S. would reduce tariffs on Chinese imports to 47 per cent by halving a 20-per-cent punitive levy imposed over fentanyl, after Beijing took “strong action” to stop the sale of precursor chemicals related to the deadly drug.

For its part, China will resume purchases of “tremendous amounts” of U.S. soybeans, Mr

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