Trump, Xi Strike Truce on Tariffs, Rare Earths

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Donald Trump and Xi Jinping agreed to extend a tariff truce, roll back export controls and reduce other trade barriers in a landmark summit on Thursday, potentially stabilizing relations between the world’s biggest economies after months of turmoil. 

In the first sitdown between the leaders since Trump’s return to the White House, the pair agreed China would pause sweeping controls on rare-earth magnets in exchange for what Beijing said was a US agreement to roll back an expansion of restrictions on Chinese companies. The US will also halve fentanyl-related tariffs on Chinese goods, while Beijing resumes purchases of soybeans and other American agricultural products.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe speaks with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Peterson Institute for International Economics Senior Fellow Mary Lovely.
• ROKK Solutions Senior Vice President Lisa Camooso Miller and Former Special Assistant to President Joe Biden Meghan Hays.
• Democratic Congressman Jake Auchincloss of Massachusetts.

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