China and the US have agreed to a trade truce.
31.10.2025 1196

China and the US have agreed to a trade truce.

During their first face-to-face meeting in six years, US President Donald Trump and Chinese President Xi Jinping reached a trade truce, halting the recent escalation of the trade war over rare earth elements, writes Worldfootwear.com.

As part of the agreement, China will suspend for one year its extensive export controls on rare earth elements, which have recently escalated tensions. This will give the US a temporary reprieve from controls that could threaten the supply chains of mobile phones, fighter jets, and many other goods.

In response, the United States will immediately reduce tariffs on Chinese fentanyl-related goods from 20% to 10%, reducing the overall U.S. tariff rate on Chinese goods to approximately 47%.

Thus, the threat of 100% tariffs on Chinese imports, which the Trump administration had threatened to impose on November 1, was postponed.

In their first face-to-face meeting in six years, US President Donald Trump and Chinese President Xi Jinping reached a trade truce, halting a recent escalation in their trade war over…
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