US President Donald Trump has announced that he has reached a one-year agreement with China on rare earth minerals and critical minerals, which will reduce tariffs on Chinese fentanyl-related products by nearly half. Trump made the announcement during an interview on Air Force One, stating that the meeting with Chinese President Xi Jinping was "very good" and that "many decisions" were made. He confirmed that the rare earth issue has been resolved through a one-year agreement, with both sides agreeing to renegotiate annually. The tariffs on Chinese export products will be reduced from 57% to 47%. In return, China will work to curb the fentanyl problem and resume purchasing American soybeans and other agricultural products. Trump plans to visit China in April next year, where he will discuss the agreement in more detail. The White House has also announced that China will effectively suspend additional export controls on rare earth metals and terminate investigations into US semiconductor supply chain companies. The move is seen as a significant step towards easing tensions between the two countries and could have a positive impact on the global economy.