FX.co ★ Fentanyl Deal in Sight as Trump Plans Tariff Cut for China

U.S. President Donald Trump has indicated plans to lower the tariffs on Chinese exports related to fentanyl ahead of his meeting with Chinese President Xi Jinping in South Korea. This statement followed a Wall Street Journal article suggesting that the U.S. might reduce the existing 20% tariffs by half in return for China's efforts to limit the export of precursor chemicals used in fentanyl production. Trump characterized the bilateral relations between the two countries as "very good" and expressed hope for a successful summit, commenting, "We are going to have a great meeting with China’s Xi." This initiative is seen as part of broader discussions aimed at mitigating trade tensions and addressing the ongoing opioid crisis.