Trump trades beans for semiconductors to land China truce deal

**Summary:**In a significant breakthrough, US President Donald Trump and Chinese President Xi Jinping agreed to a one-year truce in their escalating trade dispute. This includes China resuming soybean imports from the US and the US easing restrictions on Nvidia's chip exports to China. The deal comes after a period of uncertainty and tension, with both countries using tariffs and export bans as bargaining chips. The agreement also involves China continuing to sell rare earth minerals to the US and the US reducing some tariffs in exchange for China's help in curbing the fentanyl crisis. However, both sides have kept their options open, and trade tariffs remain high, suggesting repeated rounds of annual trade truces in the future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.