Overview
- Leaders agreed to reduce the fentanyl-related tariff from 20% to 10%, and President Trump said he would remove the remaining 10% once U.S. authorities confirm concrete enforcement in China.
- The temporary pause on activating 24% of the reciprocal tariffs was extended for one year beyond the prior November 10 deadline.
- A U.S. fact sheet says China will effectively lift rare-earth export restrictions by issuing permits for gallium, germanium and graphite while postponing planned tighter controls.
- China will stop retaliatory tariffs announced since March 4, including revoking up to 15% duties on U.S. agricultural products such as chicken, wheat and soybeans, and will pull back non-tariff barriers introduced as retaliation.
- The United States will suspend for one year export restrictions announced in September on certain semiconductor-related firms including Nexperia, and China will ensure semiconductor supply resumption with appropriate measures.