Overview
- China agreed to suspend newly announced export controls on rare earths for about a year and to resume purchases of U.S. soybeans, according to post‑meeting readouts.
- The United States lowered selected tariffs, including cutting fentanyl‑related levies to 10%, and rescinded some enforcement actions against companies suspected of helping evade export controls.
- Xi Jinping, speaking at APEC in Gyeongju, called for extending rather than breaking industrial and supply chains and urged cooperation to stabilize growth.
- Trump said he and Xi would work together on ending the war in Ukraine, a claim not corroborated by Beijing and viewed skeptically given China’s ties to Russia and the lack of concrete steps.
- Trump announced on Truth Social that he ordered U.S. nuclear testing to begin immediately, but experts note the NNSA—not the Pentagon—would oversee any tests and that legal, technical and budget hurdles make near‑term explosions unlikely.