President Trump Agrees to 10% Tariff Reduction After Meeting with Chinese President Xi

President Trump in following up to his meeting with Chinese President Xi Jinping in South Korea on October 30, 2025, signed an Executive Order this evening, November 4th, which lowers the tariff on Chinese imports entered for consumption, or withdrawn from a warehouse for consumption, on or after 12:01 a.m. ET on November 10, 2025 from 20% to 10%.

Accordingly, subchapter III of chapter 99 of the HTSUS shall be modified as follows by 12:01 a.m. ET on November 10th:

(i)  heading 9903.01.24 is amended by deleting “20%” each place that it appears and inserting “10%” in lieu thereof and by deleting “or U.S. note 2(w) to this subchapter”; and

(ii) subdivision (u) of U.S. note 2 is modified by deleting “20%” and inserting “10%” in lieu thereof and by deleting “March 4, 2025” and inserting “November 10, 2025” in lieu thereof.

In addition, the president signed a second Executive Order this evening that maintains the suspension of heightened reciprocal tariffs on imports from China until 12:01 a.m. ET on November 10, 2026.

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October 30, 2025:

President Trump has reportedly agreed to an overall 10% reduction of U.S. tariffs imposed on China products following a meeting with Chinese President Xi Jinping in South Korea today during which China agreed to crack down on fentanyl production and their exports.

In addition, China halted its new export licensing plan for rare earth metals.

As reported by International Trade Today (ITT) this morning, the Trump administration has also agreed to pause the U.S. fees imposed on Chinese-built and operated ships calling U.S. ports, while the two sides discuss "market-distorting subsidies in the shipbuilding sector."

We will continue to monitor this action by the Trump Administration and provide subsequent updates, including Customs and Border Protection (CBP) guidance, to our clients and readers as received.

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