Trump, Xi Announce Trade Truce

At a historic summit, Presidents Donald Trump and Xi Jinping agreed to extend a tariff truce, roll back export controls and ease other trade barriers to stabilize relations between the United States and China after months of turbulence. Under the deal, China has reportedly suspended wide controls on rare-earth magnets while the United States is moving to reverse an expansion of restrictions on Chinese firms and has halved tariffs on certain China-made products tied to fentanyl. Beijing also agreed to resume large agricultural purchases, including soy and sorghum, and the accord is intended to reduce economic friction and market uncertainty that has rippled through global supply chains. The pact’s effects were already visible for exporters: Mexican avocado grower Luis García said recent U.S. tariff threats repeatedly halted sales and left some workers unpaid. Major outlets including Bloomberg and Reuters are covering the diplomatic and economic implications, with veteran reporters such as Reuters’ White House correspondent Jeff Mason providing context, and the Associated Press continuing to be a principal source of fast, factual reporting.