U.S. & China Trade Talks – White House Fact Sheet

Posted on Nov 3

By: Brian Walczyk, Compliance Manager, TradeInsights, LCB, CCS

Last week, President Trump and delegates from the U.S. government spent time in Southeast Asia meeting with countries’ trade delegations. President Trump met directly with China’s President Xi Jinping, to which he stated, “I had a truly great meeting with President Xi of China.” The full statement can be viewed here.

Following the meeting, it was stated that the talks were so productive that the 20% IEEPA Fentanyl tariff for China would be reduced to 10%. Over the weekend, the White House issued a fact sheet detailing major topics from these talks with China.

In summary, the U.S. actions are as follows:

  • Official guidance from US CBP has yet to be published.
  • IEEPA Fentanyl China to be reduced to 10% on November 10, 2025.
  • IEEPA Reciprocal China to remain at 10% until November 10, 2026.
  • The remaining Sec 301 exclusions to be extended through November 10, 2026.
  • Suspension of one year, from November 10, 2025, of the interim final rule Expansion of End-User Controls to Cover Affiliates of Certain Listed Entities.
  • Suspension of one year, from November 10, 2025, of the Sec 301 Chinese Built or Operated ship fees.

Summary actions by China are as follows:

  • Suspension of the new export controls on rare earths and related measures announced on October 9, 2025.
  • China to resume issuing general licenses valid for exports of certain rare earths for the benefit of U.S. end users and their suppliers.
  • China to take significant measures to end the flow of fentanyl to the U.S.
  • China to suspend all retaliatory tariffs and non-tariff measures implemented on March 4, 2025.
  • China is to purchase 12 MMT of U.S. soybeans during the last 2 months of 2025, and to purchase 25 MMT in 2026, 2027, and 2028.

And more… We will continue to monitor this situation and issue updates as needed. Please contact your account team for any questions, or you may also contact our Trade Compliance team at tradeinsights@valexander.com with any questions, and you can always follow us on our website www.valexander.com for updates on this and other topics.