Following a high-level summit in Busan, South Korea, U.S. President Donald Trump announced a one-year trade agreement with China, aimed at easing ongoing trade tensions. Under the deal, tariffs on Chinese goods will be reduced from 57 percent to 47 percent. Trump emphasized that the agreement will automatically renew and described the negotiations as a major diplomatic success, stating, “Our deal is done.” Analysts see the tariff reduction as a significant step toward stabilizing U.S.-China economic relations. As part of the agreement, complex issues related to rare minerals have also been addressed. Trump confirmed he will visit China in April, while a visit by President Xi Jinping to the U.S. is expected later. Both leaders highlighted ongoing communication and the natural differences in national priorities between the world’s two largest economies.