Overview
- The Wall Street Journal, as reported via Reuters, says negotiators are discussing a framework that would condition tariff relief on Chinese action to curb exports of fentanyl precursor chemicals.
- The plan under consideration would scale back up to 10% of a 20% fentanyl-related tariff if Beijing implements stricter controls on those chemicals.
- President Trump and President Xi are expected to meet Thursday on the sidelines of the APEC summit in South Korea to review the proposal, which is not finalized.
- China’s top trade negotiator Li Chenggang said the two sides have reached “a preliminary consensus on a range of issues,” signaling progress ahead of leader-level talks.
- Trade frictions persist, with Trump threatening 100% tariffs on Chinese goods starting November 1 after Beijing tightened rare-earth export controls it characterizes as national security measures.