Based on commitments from the Chinese president, President Trump lowered fentanyl-linked tariffs to 10 percent.
President Donald Trump met with Chinese Communist Party (CCP) President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation summit this week. President Trump said that, due to the commitment from the CCP leader to stop the export of fentanyl precursor chemicals into the U.S., he was halving the tariffs on those chemicals.
President Trump said, “Based on [Xi’s] statements today, I reduced it by 10%. So, it’s 10% instead of 20%, effective immediately.” The overall tariff rate on Chinese imports has also been reduced by 10 percent, to 47 percent. The president also reported that China’s export restrictions on metallic elements have been placed on hold for a year.
“We have not too many stumbling blocks now,” President Trump said. “We have a deal. We’ll negotiate at the end of a year, but all of the rare earth has been settled.”
Calling the meeting a “great success”, the president said, “On the scale of from zero to 10, with 10 being the best, I would say the meeting was a 12.”
As the Lord Leads, Pray with Us…
- For President Trump to be led by the Lord as he negotiates trade deals with foreign leaders.
- For wisdom for members of Congress as they assess and respond to the tariff strategy the president has used to encourage updated trade agreements.
Sources: Daily Wire, UPI News, Fox News
