Trump Touts One-Year U.S.–China Trade Truce With Tariff Cut and Soybean Purchases

Overview

• Trump said he and Xi met on October 30 on the sidelines of APEC in Busan and later praised the "G2" meeting on Truth Social.
• He declared "We have a deal" and announced a one-year pact that he said will be renegotiated annually and could be extended.
• Trump said the effective U.S. tariff rate on Chinese imports would drop from 57% to 47%, tying the relief to Beijing taking strong steps against fentanyl.
• He said China would immediately begin buying large quantities of U.S. soybeans and other farm products, noting Xi authorized purchases the day before.
• Coverage continues to describe the arrangement as provisional, with verification, enforcement and other details still awaiting clarification and approval.