Overview
- President Trump said the U.S. will halve a fentanyl‑related tariff on Chinese goods to 10%, lowering the overall effective tariff burden from about 57% to about 47%.
- Beijing confirmed a roughly one‑year suspension of new export restrictions on rare earths and certain strategic materials, easing supply pressure for high‑tech sectors.
- Both sides agreed to pause reciprocal port and maritime fees for one year, and Washington will postpone Section 301 actions tied to shipping and ports.
- China signaled the resumption of large purchases of U.S. farm goods, with Reuters reporting Cofco bought about 180,000 tonnes of soy shortly before the leaders met.
- Key technology questions remain unresolved, including access to advanced Nvidia chips and the future of TikTok, and analysts describe the outcome as a temporary truce requiring follow‑up talks.