Tokyo | US President Donald Trump has claimed victory in the latest phase of his long-running trade war with China, saying leader Xi Jinping had agreed to loosen controls on rare earth exports and buy more soybeans from American farmers.

Speaking to reporters aboard Air Force One straight after his first face-to-face meeting with Xi since 2019, Trump said he had agreed to cut existing tariffs on Chinese imports to the US by 10 percentage points to 47 per cent in return for a series of undertakings by Beijing.

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