Current Affairs - International - Discussion

The United States agreed to reduce tariffs on Chinese imports from 57% to 47% following diplomatic negotiations with China in Busan, South Korea. This deal temporarily eased tensions between the two major economies, marking a one-year truce on rare earth exports. The U.S. concessions were part of a broader agreement that included China’s resumption of soybean purchases and increased action against fentanyl trafficking, reflecting efforts by both sides to stabilise trade relations and promote economic cooperation despite ongoing strategic competition.