There’s an apparent truce in President Donald Trump’s tariff war with China.
After meeting Thursday in South Korea with Chinese President Xi Jinping, Trump announced an agreement that would include lowering his tariffs on Chinese goods in exchange for Beijing buying “massive amounts” of American agricultural products and cooperating in battling illegal drugs.
And the president more than sounded pleased with the results.
“Overall, I guess on the scale of from zero to 10, with 10 being the best, I would say the meeting was a 12,” he said, according to The Wall Street Journal.
In a lengthy post on the Truth Social social media platform, Trump called the meeting with Xi “truly great.”
He noted that Xi had agreed that China would buy “Soybeans, Sorghum, and other Farm products. Our Farmers will be very happy!”
“In fact, as I said once before during my first Administration, Farmers should immediately go out and buy more land and larger tractors,” Trump wrote.
In addition, Xi approved China easing controls on exports of “rare earth” minerals that are used in high-tech products as well as weapons systems. That relaxation will last one year.
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“The agreements reached today will deliver Prosperity and Security to millions of Americans,” Trump wrote.
China also agreed to purchases of U.S. energy, Trump wrote, and pledged greater cooperation in battling fentanyl being sent to the United States.
“Very significantly, China has strongly stated that they will work diligently with us to stop the flow of Fentanyl into our Country,” Trump wrote. “They will help us end the Fentanyl Crisis.”
In return, Trump agreed to lower his tariffs on Chinese goods heading into the U.S. by 10 percent — from 57 percent to 47 percent, according to Reuters.
“We agreed on many things, with others, even of high importance, being very close to resolved,” Trump wrote.
The long-anticipated meeting with Xi might have been the most critical moment of Trump’s Asian trip, but the agreement Trump announced was just one of several he’s reached with other regional leaders.
On Wednesday, Trump said South Korea had also agreed to large investments in the U.S. economy.
The trip has resulted in “a landmark critical minerals agreement with Japan,” according to the White House.
On Sunday, while Trump was in the Malaysian capital of Kuala Lumpur, the White House announced trade agreements with Malaysia, Cambodia and Thailand.
And that’s on top of an agreement Trump brokered to cool tensions between Cambodia and Thailand, the White House noted.
It was clear from Trump’s Truth Social post that he considered the trip ending on a high note.
“After this Historic trip to Asia, I am now heading back to Washington, D.C.,” he wrote, thanking his hosts in countries he visited, as well as other dignitaries.
“Hundreds of Billions of Dollars are being brought into our Country because of them. Our Nation is Strong, Respected, and Admired Again and, THE BEST IS YET TO COME!”
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