The US will not put its threatened counter-tariffs on Chinese imports into effect until at least November 10, 2026. This emerges from a White House overview of the results of the meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea.
The current counter tariff of ten percent, which is already in effect, remains in force, the American side said. This means that further details about the recent agreements between the USA and China became known. Xi and Trump met in South Korea on Thursday to discuss the trade conflict between the two largest economies.
Immediately after the meeting, Trump had already announced that the USA would reduce the current tariff rate of 20 percent on goods from China, which was introduced as a means of pressure in the fight against the drug fentanyl crisis, to 10 percent – from November 10th. In the past, Trump has repeatedly accused China of being partly responsible for the fentanyl crisis in the USA. Fentanyl is a synthetic opioid that is quickly addictive.
Trump had threatened 100 percent additional tariffs
The trade dispute between China and the USA affected other areas: Trump recently threatened additional tariffs of 100 percent on imports of Chinese products from November 1st if China did not move on the issue of rare earths.
According to Trump’s words immediately after the meeting, the obstacles posed by China’s export controls on rare earths have been removed. The agreement is valid for one year and can be extended for another year after negotiations.
In a TV interview published on Sunday by CBS News, Trump said, according to the transcription, that when China withheld rare earths from the USA and the rest of the world, he introduced the 100 percent tariff to counteract it. When he made the threat known, China “immediately came to the negotiating table.”
