Trump-Xi talks end in truce, not deal, with new potent risks

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US President Donald Trump and Chinese President Xi Jinping finally met in Busan, South Korea, for long-awaited talks aimed at easing trade tensions. If that was the objective, it was only narrowly achieved: the US “fentanyl tariffs” on China were halved—from 20% to 10%—bringing Chinese tariff levels closer to those of other Asian economies. In
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