US EditionTrump cuts fentanyl tariffs on China to 10%, says U.S. has reached rare earths deal with Beijing
The one-year pact includes a 10% tariff cut on Chinese exports and commitments to curb fentanyl flow and resume U.S. agricultural purchases, officials said.
- In Busan on October 30, 2025, U.S. President Donald Trump and Chinese President Xi Jinping agreed on a one-year deal on rare earths and critical minerals, and lowered tariffs on Chinese exports to 47%.
- Tariffs and tech curbs framed the talks, with rare earths and critical minerals central to negotiations, while the U.S. proposed measures on fentanyl flow and TikTok's parent ByteDance divestiture.
- It was their first meeting in six years and lasted one hour and 40 minutes, with Trump calling Xi `an old friend` and Xi supporting Trump's `Make America Great Again` vision.
- Beijing pledged it will `work very hard to stop fentanyl` and resume purchases of American soybeans and other agricultural products, while Trump announced reciprocal visits by Trump and Xi.
- Tensions have been high this year, and the latest escalation came this month with Beijing export controls and Washington's threats to ban software-powered exports.
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Badische Neueste NachrichtenAfter the meeting with Xi Jinping Donald Trump announced an agreement on rare earths. What the agreement means for industry and export controls.
Donald Trump and Xi Jinping came out together from the venue of the meeting in South Korea, between smiles and handshakes, seemingly without tension, according to the images broadcast by TV...
‘Amazing meeting’: Trump touts progress on multiple fronts with China after meeting Xi
BUSAN, South Korea — President Donald Trump on Thursday said he had “an amazing meeting” with Chinese leader Xi Jinping, appearing to tamp down tensions that had been building for months. “Zero, to 10, with 10 being the best, I’d say the meeting was a 12,” Trump told reporters aboard Air Force One, shortly after he left South Korea on his way back to Washington. “A lot of decisions were made … and we’ve come to a conclusion on very many importan…
Trump says strikes deal with China’s Xi on tariffs, rare earth exports
US President Donald Trump said he had struck a deal to reduce tariffs on China on Thursday in exchange for Beijing resuming US soybean purchases, keeping rare earths exports flowing and cracking down on the illicit trade of fentanyl. His remarks after the face-to-face talks with China’s leader Xi Jinping in the South Korean city of Busan, their first since 2019, marked the finale of Trump’s whirlwind Asia trip on which he also touted trade break…
BTC Price News: Retakes $110K as Trump Settles Metals Deal, Lowers China Tariffs
However, bitcoin and other non-yielding assets may benefit in the coming months as liquidity returns and investors rotate out of cash-heavy positions into growth and alternative stores of value.
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