On October 31, 2025, President Donald Trump and Chinese President Xi Jinping met to discuss ongoing trade and economic concerns between the two countries. While a formal agreement is said to be forthcoming, the White House to date has only released a Fact Sheet that provides the following summary of negotiated actions.
Chinese Actions:
- China will suspend the global implementation of the export controls on rare earth and critical minerals and related measures announced on October 9, 2025. China will also issue general licenses valid for exports of rare earths, gallium, germanium, antimony, and graphite for the benefit of U.S. end users and their suppliers.
- China will take measures to end the flow of fentanyl to the United States, including efforts to stop the shipment of certain precursor chemicals to North America.
- China will suspend all of the retaliatory tariffs that it has announced since March 4, 2025. This action includes tariffs on numerous U.S. agricultural products: chicken, wheat, corn, cotton, sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products.
- China will suspend or remove all of the retaliatory non-tariff countermeasures taken against the United States since March 4, 2025, including China’s listing of certain U.S. companies on its end user and unreliable entity lists.
- China will purchase at least 12 million metric tons (MMT) of U.S. soybeans during the last two months of 2025 and also purchase at least 25 MMT of U.S. soybeans annually in 2026, 2027, and 2028. China will resume purchases of U.S. sorghum and hardwood logs.
- China will remove retaliatory measures in response to the U.S. government’s Section 301 investigation on China’s Targeting the Maritime, Logistics, and Shipbuilding Sectors for Dominance, and remove sanctions imposed on various shipping entities.
- China will further extend the expiration of its market-based tariff exclusion process for imports from the United States, and the exclusions will remain valid until December 31, 2026.
- China will terminate its various investigations targeting U.S. companies in the semiconductor supply chain, including its antitrust, anti-monopoly, and antidumping investigations.
U.S. Actions:
- The United States will lower its tariffs on imports from China imposed to curb fentanyl flows by 10%, effective November 10, 2025, and will maintain its suspension of heightened reciprocal tariffs on imports from China until November 10, 2026.
- The United States will further extend the expiration of certain Section 301 tariff exclusions, currently due to expire on November 29, 2025, until November 10, 2026.
- The United States will suspend for one year, starting on November 10, 2025, the implementation of the interim final rule, Expansion of End-User Controls to Cover Affiliates of Certain Listed Entities (i.e., the “50% Affiliates Rule”).
- The United States will suspend for one year, starting on November 10, 2025, implementation of those actions arising from the Section 301 investigation on China’s Targeting the Maritime, Logistics, and Shipbuilding Sectors for Dominance.
Thompson Hine trade counsel and professionals continue to monitor U.S.-China trade discussions and will report on any further formalization of these recent actions.