Overview
- An executive order signed Nov. 4 lowers the additional tariff rate on many Chinese goods from 20% to 10% effective Nov. 10.
- China will delay rare‑earth export restrictions for one year, extend the suspension of an extra 24% levy on U.S. goods, and remove tariffs of up to 15% on U.S. soy and other farm products.
- Treasury Secretary Scott Bessent said the U.S. will forgo a threatened 100% tariff and outlined a final TikTok governance framework with six of seven board seats to be held by U.S. citizens.
- The State Department and DHS will monitor implementation, and President Trump reserved the option to reinstate measures if commitments are not met.
- Mexico received a postponement of a threatened 30% U.S. tariff as analysts caution the U.S.–China detente could temper nearshoring-driven investment plans.