United States announces 10% tariff cut on China following high-level meeting between presidents

Busan, October 30, 2025: The United States has announced a 10% reduction in tariffs on Chinese goods following a landmark meeting between the U.S. and Chinese presidents held in Busan, South Korea.

Speaking to reporters aboard Air Force One, the U.S. President said that tariffs on Chinese imports would be reduced from 57% to 47%, calling the meeting with his Chinese counterpart “excellent.”

> “On a scale of one to ten, I’d rate it a twelve,” he said, adding that several major agreements were reached during the talks.

According to the president, the two sides resolved outstanding issues related to rare minerals, agreeing to remove further obstacles in that sector. He clarified that the discussion did not involve Blackwell chips, a sensitive topic in the tech trade.

The U.S. also confirmed that soybean purchases from China will resume immediately, while tariffs on fentanyl-related imports will be halved from 20% to 10% as part of a bilateral effort to curb the flow of the deadly synthetic opioid.

The president announced plans to visit China in April next year, with the Chinese leader expected to make a reciprocal visit to Washington thereafter.

On global affairs, the U.S. leader said the two countries would cooperate on the Ukraine conflict, though Taiwan was not discussed during the meeting.

He also remarked that given that other nations are conducting nuclear tests, it would be “appropriate” for the United States to resume nuclear testing, with sites to be determined later.

The president added that due to scheduling constraints, he was unable to speak with the North Korean leader, but planned to do so upon his return.

Following the meeting, the U.S. President departed South Korea, concluding what both sides described as a constructive and forward-looking dialogue aimed at easing trade tensions and enhancing strategic cooperation.