Overview
- President Trump said the effective U.S. tariff rate on Chinese goods drops by 10 percentage points to 47%, linked to halving a fentanyl-related levy after Xi pledged tougher action on precursor chemicals.
- Beijing will pause newly expanded controls on exports of rare earths and other critical minerals for about one year, providing interim relief for supply chains tied to advanced manufacturing.
- Treasury Secretary Scott Bessent said China committed to buy 12 million metric tons of U.S. soybeans for the remainder of this year and 25 million tons annually for the next three years.
- Both sides cast the outcome as a provisional truce with teams told to finalize terms soon, with enforcement specifics, verification mechanisms, domestic approvals, and tech carve-outs still unsettled.
- Unresolved issues include TikTok and access to top-tier U.S. chips, Taiwan was not discussed, and Trump’s separate directive to begin U.S. nuclear weapons testing drew attention during the summit.