After meeting with Xi Jinping, Trump announced he would lift the "rare earth embargo" and lower tariffs on Chinese goods.

US President Donald Trump declared on Tuesday that he would lower tariffs on Chinese products after meeting with his counterpart, Xi Jinping. After a nearly two-hour meeting at Busan Airport in South Korea, the US president called the meeting "a great success" and proclaimed that the Asian country had ended its restrictions on rare earth minerals. While boarding Air Force One, Trump shared information about his exchange with Xi with reporters accompanying him on his Asian tour, but did not reveal many specific details regarding the issues on which Washington and Beijing had supposedly reached an agreement. Trump stated that the rare earth trade issue is "resolved." In recent weeks, Beijing has strengthened its control over the export of rare earth minerals, which it processes under a monopoly.