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Trump Expects to Cut Tariffs Related to Fentanyl Crisis on CN from 20% to 10%
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Chinese President Xi Jinping is set to meet with US President Donald Trump today (30th) in Busan, South Korea, according to foreign media. Trump said that he expected to lower the additional tariffs imposed on Chinese goods in response to the fentanyl crisis, and anticipated that China will take action to directly cooperate with the US to address the export issues of key chemicals used in fentanyl production. However, no further details on the tariff reduction were provided. According to The Wall Street Journal, the tariffs related to the fentanyl issue will be cut from 20% to 10%. The White House announced that the meeting between the two heads of state will take place at 11 am local time in Busan, South Korea. Trump mentioned that he will discuss issues related to Nvidia (NVDA.US)'s flagship AI chip, Blackwell, with Xi. He was open to providing the AI chip Blackwell to China as part of a trade agreement, and expected to reach a mutually beneficial agreement with China. China's position on this issue is consistent and clear. China is one of the most resolute, comprehensive and well-documented countries in anti-narcotics, and is also one of the countries with the most regulated substances and strictest controls in the world, Guo Jiakun, the spokesperson of the Ministry of Foreign Affairs of the PRC (MoFA), said. Guo expressed sympathy for the American people suffering from the fentanyl crisis, and noted that China has provided assistance with positive results. China remains open to continued cooperation with the US, and urges the US to take practical actions to create the necessary conditions for bilateral cooperation. AASTOCKS Financial News Website: www.aastocks.com |
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