Outcome of the China-US trade talks: small reduction in tariffs, China delays rare earth export controls by 1 year, China buys US soybeans, China to cooperate in Trump's alleged "fentanyl crisis"

Reuters says that the tariff on China was only reduced from 57% to 47%.

https://www.reuters.com/world/china/looming-trump-xi-meeting-revives-hope-us-china-trade-truce-2025-10-29/

The quote below is tweeted by a Chinese Embassy in the US.

ICYMI: The outcomes achieved by #Chinese and #US delegations during their recent economic and trade talks in #KualaLumpur.⬇️

🇨🇳🇺🇸The outcomes achieved by Chinese and US delegations during their recent economic and trade talks in #KualaLumpur.⬇️

1️⃣
🇺🇸The US will cancel the 10% so-called “#fentanyltariffs” and suspend, for an additional year, the 24% #reciprocaltariffs levied on Chinese goods, including goods from the #HongKong SAR and the #Macao SAR.
🇨🇳China will make corresponding adjustments to its countermeasures against the aforementioned US tariffs.
🤝Both sides have agreed to continue extending certain tariff exclusion measures.

2️⃣
🇺🇸The US will suspend for one year the implementation of a new rule announced on Sept 29 that expands its “#entitylist” export restrictions to any entity that is at least 50% owned by one or more entities on the list.
🇨🇳China will suspend the implementation of relevant export control measures announced on Oct 9 for one year and will study and refine specific plans.

3️⃣
🇺🇸The US will suspend the implementation of measures under its #Section301 investigation targeting China’s maritime, logistics and shipbuilding industries for one year.
🇨🇳China will correspondingly suspend the implementation of its countermeasures against the US side for one year once the US suspension takes effect.

4️⃣The two sides also reached consensus on issues including anti-drug cooperation on #fentanyl, expanding #agricultural product trade, and the handling of individual cases involving relevant enterprises.

5️⃣Both sides further confirmed the outcomes of the Madrid economic and trade talks. The US side made positive commitments in areas such as investment, and China will properly resolve issues related to #TikTok with the US side.

https://xcancel.com/ChineseEmbinUS/status/1983872076504297899#m

Below is the China press release for the meeting between Trump and Xi. It’s mostly civility stuff.

https://www.fmprc.gov.cn/eng/xw/zyxw/202510/t20251030_11743886.html

Below is today’s China Foreign Ministry press conference. It mentions the South Korea Nuclear Submarine and Trump’s order to start testing nuclear weapons,

https://www.mfa.gov.cn/eng/xw/fyrbt/202510/t20251030_11744169.html

Below is a press statement by China’s Ministry of Commerce (MOFCOM). It’s written in Chinese.

https://www.mofcom.gov.cn/xwfb/xwfyrth/art/2025/art_c42035acf50846ffb9fb4761ee224faf.html

https://archive.is/tjaE0