10/30/2025
BREAKING - “Deal Done”: Donald Trump’s Big Win in Trade Talks with Xi Jinping
BUSAN, South Korea — Friends Community News Group, October 30, 2025, 11 am ET - In what he called a “12 on a scale of 1 to 10” meeting, President Donald Trump and Chinese President Xi Jinping wrapped up a summit in Busan that, for now, appears to reset the temperature in the U.S.–China trade war.
The U.S. will lower the average tariff on Chinese goods from 57% to 47%.
Before Trump became president the tariffs were only 19%. Trump raised it to 57% and now lowered it to 47%. Still over double from what Biden charged.
China has pledged to purchase large volumes of U.S. agricultural goods, notably soybeans. According to the U.S. Treasury, China will buy 25 million metric tons annually for the next three years, starting with about 12 million metric tons by January.
China will also pause or delay export restrictions on rare earth minerals (used in electronics, defense, etc.) for at least one year, giving U.S. industries some breathing room.
A separate tariff related to fentanyl-precursor chemicals was cut from 20% to 10% as part of the broader package.
This deal ticks several boxes: it bolsters U.S. agriculture (particularly soybeans), provides relief to U.S. manufacturers reliant on rare earth supply chains, and presents a narrative of strength and negotiation mastery ahead of the next election cycle. By trimming the tariff rate, Trump can claim he brought down burdens on U.S. importers and consumers while extracting concessions from Beijing.
The agricultural community — especially soybean growers in the Midwest — is likely cheering. China’s renewed commitment to buy soybeans represents a significant lifeline after years of tit-for-tat tariffs and retaliatory sourcing.
In the manufacturing sector, firms dependent on rare earth inputs or electronics components may breathe easier for the near term, given the one-year moratorium on additional Chinese export controls.
By: Tom Manke