Overview
- Trump said the cumulative tariff burden he has threatened is not sustainable for the economy, even as he defended his approach in a Fox interview.
- The United States still threatens an additional 100% tariff on Chinese imports starting November 1 alongside proposed new curbs on software exports.
- Beijing is expanding export controls on rare earths, requiring permits for 12 of 17 key metals with implementation staggered in November and December.
- Trump confirmed plans to meet Xi Jinping in South Korea in about two weeks, reviving a session he had recently cast into doubt.
- U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held a video call and agreed to pursue further trade talks, as the WTO warned a deep U.S.–China split could cut global output by about 7%.