The US and China have reached a one-year truce, with the US cutting the fentanyl tariff and extending the existing truce on reciprocal tariffs, and China resuming soybean sales and rare-earths flows. After the meeting, President Trump said he also did not discuss approving sales of Nvidia Corp.’s Blackwell chips to China. Trump said he and Xi Jinping talked about Nvidia’s access to China in general and that the chipmaker would continue conversations with Beijing. UC San Diego School of Global Policy and Strategy Dean Caroline Freund joined Carol Massar and Time Stenovec on ‘Bloomberg Businessweek Daily’ to break down the meeting.
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