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Image: FP
The take: Trump and Xi signed a one-year trade agreement pausing tariff escalation.
Both leaders needed tangible results.
What happened: On 30 October 2025, Trump and Xi met for 100 minutes in Busan, South Korea and agreed to pause escalating tariffs, port fees and rare earth controls for exactly one year.
Why it matters: Farmers receive soybean orders, shipping companies receive fee relief, and both presidents can claim successful negotiations.
But consumers still pay the 47% tariff rate that was 0% three years ago.
The agreement expires in 12 months.
What to watch: April 2026, when Trump visits Beijing, and the renegotiation deadline in October 2026.
[Report] Foreign Policy covers the deal terms, including port fee suspensions, soybean commitments, and tariff reductions. Published 30 October 2025.
The US agreed to reduce tariffs from 57% to 47%.
At the same time, China committed to purchasing 12 million metric tons of US soybeans by January, plus 25 million metric tons annually for the next three years, Treasury Secretary Scott Bessent announced.
Both sides paused reciprocal port fees and agreed to suspend new export controls for one year.
Trump told reporters the deal was "amazing" and rated it "12 out of 10," adding that "every year we'll renegotiate the deal.
Trump described the meeting as amazing. China's commerce ministry stated that the two sides "agreed to expand agricultural trade" without specifying dollar amounts.
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