Trump cuts tariffs on China after meeting Xi Jinping in South Korea

President Donald Trump, left, and Chinese President Xi Jinping (Mark Schiefelbein/AP)

US President Donald Trump described his face-to-face with Chinese leader Xi Jinping on Thursday as a roaring success, saying he would cut tariffs on China, while Beijing had agreed to allow the export of rare earth elements and start buying American soybeans.

The president told reporters aboard Air Force One that the US would lower tariffs implemented earlier this year as punishment on China for its selling of chemicals used to make fentanyl from 20% to 10%.