United States President Donald Trump on Thursday said that following an “ amazing ” meeting with Chinese President Xi Jinping, he has agreed to reduce tariffs on China in exchange for Beijing keeping rare earth exports flowing and cracking down on the illicit fentanyl trade, The Guardian reported.

Speaking to reporters aboard Air Force One after the talks in South Korea’s Busan, Trump said China would lift restrictions on rare earth exports as part of a one-year deal expected to be renewed annually.

Following this, only Brazil and India remain subject to higher tariffs among major US trading partners.

“All of the rare earth has been settled,” Trump was quoted as saying. “That’s for the world, worldwide. You could say this was a worldwide situation, not just a US situation. There

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