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President Donald J. Trump reached a trade and economic deal with President Xi Jinping of China. This historic agreement includes Chinese commitments to halt the flow of precursors used to make fentanyl into the United States, effectively eliminate China’s current and proposed export controls on rare earth elements and other critical minerals, end Chinese retaliation against U.S. semiconductor manufacturers and other major U.S. companies, and open China’s market to U.S. soybeans and other agricultural exports.
China will suspend all of the retaliatory tariffs that it has announced since March 4, 2025. This includes tariffs on a vast swath of U.S. agricultural products: chicken, wheat, corn, cotton, sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products.
In March, China had placed a 57% retaliatory tariff on U.S. pork exports. Tariffs will be reduced by 10%. According to the National Pork Producers Council, U.S. pork exports to China in the first seven months of the year were down 13%, largely due to these retaliatory tariffs.
China will purchase at least 12 million metric tons (MMT) of U.S. soybeans during the last two months of 2025 and also purchase at least 25 MMT of U.S. soybeans in each of 2026, 2027, and 2028.
The United States will lower the tariffs on Chinese imports imposed to curb fentanyl flows by removing 10 percentage points of the cumulative rate, effective November 10, 2025, and will maintain its suspension of heightened reciprocal tariffs on Chinese imports until November 10, 2026. (The current 10% reciprocal tariff will remain in effect during this suspension period.)
November 1, 2025/ White House and NPPC/ United States.
https://www.whitehouse.gov
https://nppc.org
