Overview
- Treasury Secretary Bessent said China agreed to postpone tougher rare‑earth export controls for one year.
- The United States will not proceed with a planned new 100% additional tariff on Chinese goods that was set for November 1.
- President Trump said he is prepared to reduce the remaining 20% punitive tariff if China strengthens measures to curb fentanyl exports.
- U.S. and Chinese ministers met on October 25–26 to negotiate the trade steps that preceded the leaders’ talks.
- During his South Korea visit, Trump indicated a planned summit with Kim Jong Un is postponed, as analysts note North Korea’s closer ties with China and Russia.