(L–R) U.S. Trade Representative Jamieson Greer, U.S. Secretary of Commerce Howard Lutnick, U.S. Secretary of State Marco Rubio, U.S. President Donald Trump, and U.S. Treasury Secretary Scott Bessent attend talks with Chinese leader Xi Jinping at the Gimhae Air Base in Busan, South Korea, on Oct. 30, 2025. Andrew Caballero-Reynolds/AFP/Getty Images
The meeting between U.S. President Donald Trump and Chinese Communist Party (CCP) leader Xi Jinping on Oct. 30 marked the most significant reset attempt in U.S.–China trade relations since the two powers resumed negotiations earlier this year.
After the meeting, Washington announced the framework of a U.S.–China trade deal. Many observers believe one side must have made significant concessions to break the impasse.
Who Made the Major Concessions?
On tariffs, the United States agreed to lower the overall tariff rate on Chinese imports from 57 percent to 47 percent. This includes the 25 percent Section 301 tariffs from Trump’s first term targeting intellectual property theft and unfair trade practices, a 10 percent tariff on fentanyl imposed in his second term, additional national security-related tariffs under Section 232, and the “Liberation Day” reciprocal tariffs introduced on April 2.
Heng He
Author
Heng He is a commentator on Sound of Hope Radio, China analyst on NTD's "Focus Talk," and a writer for The Epoch Times.
