WASHINGTON — President Donald Trump said he reached an agreement with Chinese President Xi Jinping on soybean purchases, fentanyl precursors, and rare earth exports, paving the way for a finalized trade deal to be signed "pretty soon" that he said would last for at least a year and result in an immediate reduction in tariffs.

The agreements are a clear bid to reduce dependence on China, ahead of a key meeting with Xi Jinping.

U.S. President Donald Trump said he expects to lower fentanyl-linked tariffs on China ahead of a much-anticipated meeting with Chinese counterpart Xi Jinping in South Korea.