Overview

• Treasury Secretary Scott Bessent said the leaders plan to meet Oct. 31–Nov. 1 in South Korea, with threatened U.S. tariffs held until Nov. 1.
• China’s Commerce Ministry warned it would “fight to the end” if new U.S. duties proceed, while keeping the door open to dialogue and defending its export controls.
• Shipping levies start this week: China set a $56‑per‑ton port fee on U.S.-linked vessels that rises to $157 by 2028, and the United States will charge $50 per net ton on Chinese ships, increasing $30 annually through 2028.
• Officials have reestablished contact, including a technical‑level meeting on Monday and further sessions slated in Washington alongside World Bank and IMF events.
• Washington announced a 25% tariff on heavy trucks effective Nov. 1 and floated a 100% duty on Chinese imports that Bessent said may not be applied.