Busan(South Korea), Oct 30 (AP) President Donald Trump said he has decided to lower his tariff rates on imports of Chinese goods to 47 per cent after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.

Trump told reporters he decided to reduce the current rate from 57 per cent after the talks.

Ahead of the meeting, Trump threatened a huge hike that would have boosted tariffs by 100 per cent, but he told reporters he didn't need to go through with that plan.(AP) RD RD

Tariffs on China reduced to 47% following talks linking trade measures to fentanyl trafficking; prior 57% rate lowered. A presidential decision reduced the applied tariff on imports from China from 57% to 47% after bilateral discussions addressing fentanyl trafficking, framed as an executive trade measure linking tariff levels to security and enforcement objectives and noting a previously contemplated rate increase that was not implemented.