President Donald Trump says he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.

Chinese President Xi Jinping offered these words to President Trump before their private meeting on Thursday in South Korea: PRESIDENT XI JINPING (through translator): President Trump, it is a great pleasure for me as well to meet you.

Bessent said Trump would likely visit Xi in Beijing early next year ahead of the Lunar New Year, and a meeting in Washington would likely happen ahead of Xi’s trip to the U.S.

Donald Trump has said he would like China's help to deal with Russia as he seeks to bring an end to the war in Ukraine. "I'd like China to help us out with Russia," the US president said on board Air Force One, as he flew to Asia for a whirlwind tour, where he will meet China's Xi Jinping in South Korea.

Chinese leader has not met with an American president since he visited San Francisco and met with Joe Biden in November 2023