Trump and Xi Agree to Cut Tariffs and Ease Rare‑Earth Rules

On 30 October 2025, U.S. President Donald Trump and Chinese President Xi Jinping held a bilateral meeting and signed a trade agreement. The leaders agreed to cut tariffs on Chinese goods and ease restrictions on rare‑earth exports.

The cumulative tariff on Chinese products was reduced from 57 percent to 47 percent in exchange for China’s cooperation to curb fentanyl shipments to the United States. China also pledged to lift export bans on five rare‑earth metals and to resume U.S. soybean imports.

The deal is expected to lower import costs for American businesses, secure supplies of critical metals for the technology sector, and improve overall trade relations. Both sides indicated the arrangements will be reviewed annually.