FENTANYL TRADE AGREEMENT
China, US slash tariffs on USD 30 billion on imports: Chinese Commerce Ministry
In a significant development, China and the United States have finalized ten key outcomes during their recent economic and trade discussions. Among these, both nations agreed to implement reciprocal tariff reductions valued at USD 30 billion on each other's imports.
India left more exposed to Trump's 100% oil threat as China gets tariff breather
India could find itself more exposed to US tariff pressure over Russian oil after Washington and Beijing extended their Busan trade truce until January 10, 2027, according to GTRI. The think tank's founder Ajay Srivastava argues that China's tariff breathing room leaves New Delhi facing greater risk from Trump's new powers to impose tariffs of up to 100% on major buyers of Russian energy.
'Busan Agreement' explained: What the US-China trade truce means for world trade
US Treasury Secretary Scott Bessent announced the extension of the Busan Agreement until January 10, 2027. This extension allows both sides more time to negotiate without facing immediate tariff threats. The Busan Agreement was initially established to ease trade tensions between the US and China last year. Key areas of focus include agriculture and non-tariff barriers that require further discussion.
What will Trump and Xi discuss in Washington next week?
US President Donald Trump will host Chinese President Xi Jinping on September 24 for their second meeting this year, with trade, Taiwan, Iran, artificial intelligence and fentanyl flows among key issues. Washington is seeking trade wins, while Beijing wants further tariff relief and concessions as tensions between the two powers persist.
POTUS: China is paying substantial tariffs, but we didn't discuss levies
While Trump maintained the leaders this week spoke about "almost everything you can discuss, except for a reduction of tariffs," he did allow that the two sides outlined efforts to reduce the flow of precursor chemicals used in the production of fentanyl. Trump has cited fentanyl flows in imposing some of the levies he placed on China.
Trump tries old tactic with China on fentanyl - a new 'working group'
President Trump has halved tariffs on Chinese goods after meeting President Xi Jinping. This move follows a consensus on combating fentanyl. A new working group will now address the drug's trafficking. This signals a shift in US policy, with some critics questioning the effectiveness of past agreements with China on this issue.
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Trump calls 'G2 meeting' with Chinese President Xi Jinping 'great one'
President Trump declared his meeting with Chinese President Xi Jinping a "great one," anticipating lasting peace and success. A landmark one-year trade pact was reached, reducing US tariffs on Chinese imports from 57% to 47%, partly due to China's commitment to strong action on fentanyl. China also agreed to immediately purchase "tremendous amounts" of US soybeans and farm products.
What is China gaining from the Trump-Xi trade deal: Chips, tariffs or rare earths
US and Chinese presidents concluded a meeting in Busan, reaching near-final trade deals. Tariffs on Chinese goods are set to be cut, and China may gain access to advanced US computer chips, a key for its tech ambitions. The agreement also addresses rare earth metals and agricultural purchases, aiming to ease global trade tensions.
Trump says clinched deal with China's Xi on rare earths, cuts fentanyl tariffs on Beijing
US President Donald Trump said on Thursday that his meeting with Chinese President Xi Jinping resulted in a one-year deal on the supply of rare earths, which can be extended and renegotiated annually. Speaking aboard Air Force One, Trump said, “All the rare earths has been settled, and that's for the world.”
Reduction of US tariffs on China linked to fentanyl possible, Trump signals ahead of Xi meeting
US President Donald Trump plans to ease tariffs on Chinese fentanyl-related goods. This move is contingent on China strengthening controls over chemicals used to make the deadly opioid. The announcement precedes a meeting with Chinese President Xi Jinping at the APEC summit. This potential deal aims to balance trade with public health.
Trump, Xi to discuss tariff cuts tied to China's fentanyl crackdown, WSJ reports
President Donald Trump and Chinese leader Xi Jinping are set to discuss a trade deal. The United States may reduce tariffs on Chinese goods. This comes in exchange for China curbing exports of chemicals used to make fentanyl. Details will be finalized in future talks. The meeting is scheduled for Thursday.
Tariff timeline: Major developments in Trump's trade war
US President Donald Trump Wednesday signed an executive order imposing an additional 25% tariff on India for its imports from Russia. A look at all his announcements related to tariffs on various countries.
Fentanyl crisis takes center stage in US-China trade negotiations: Here’s why
Fentanyl, a potent synthetic opioid, has become a key point of contention in US-China trade talks. The US accuses China of enabling fentanyl's flow into the US, leading to overdose deaths and tariffs. China denies responsibility, citing US domestic issues, but has tightened controls on some precursor chemicals. The 20% "fentanyl tariff" remains a sticking point in negotiations.
Will Trump again increase tariffs on Chinese goods if US-China fail to make a deal? Check details
After US and China agreed to a deal that will significantly cut the import tariffs, US President Donald Trump expressed confidence and said he doesn't see US tariffs on China imports rising back to 145 percent. He asserted that US and China will reach a deal. The President also said he would speak to Chinese President Xi Jinping maybe at the end of the week. He said US tariffs on goods imported from China could still return.
Carney stands ground as Trump tariffs on Canada may stay despite warmer ties
As Canada and the US attempt to rebuild ties under Prime Minister Mark Carney, US Ambassador Pete Hoekstra warns tariffs on Canadian goods may remain even under a future trade deal. While both leaders seek progress, major hurdles — from defence spending to Arctic security — still shape Canada-US relations
Trump delays tariffs on most goods from Mexico for a month
President Donald Trump postponed 25% tariffs on most goods from Mexico for a month following conversations with the Mexican president. Commerce Secretary Howard Lutnick noted the delay would apply to USMCA-compliant goods. Meanwhile, Canadian Prime Minister Justin Trudeau expects trade tensions with the U.S. to continue, mentioning potential re-application of tariffs based on the progress made in combating fentanyl shipments.
Mexico warns US it is ready to seek other trade partners
Mexican President Claudia Sheinbaum has warned that Mexico may seek other trading partners in response to US tariffs imposed by President Trump. Sheinbaum pledged retaliatory duties but also expressed a preference for negotiation and dialogue, citing the symbiotic economic relations stipulated under USMCA.
Canada strikes back at Trump as retaliatory tariffs on US goods come into effect
Canada will impose 25% tariffs on C$155 billion worth of American goods starting Tuesday if the U.S. enacts proposed tariffs on Canadian goods. Prime Minister Justin Trudeau stated that the initial tariffs will cover C$30 billion in goods, with the rest in place within 21 days. The tariffs will stay until U.S. trade actions are retracted.
China prepares trade retaliation after US tariff hike—Who’s first in the line of fire?
Beijing has issued a warning against the US decision to double tariffs on Chinese imports and vowed retaliatory actions. China accuses the US of using fentanyl-related concerns as a pretext for economic aggression and plans countermeasures targeting US agricultural products.
‘No room left’: Donald Trump rejects last-minute deal to avert tariffs for Canada, Mexico, hikes China levy
President Trump announced there would be no eleventh-hour deal with Canada and Mexico to prevent sweeping tariffs, signing an order to increase duties on China as well. The tariffs set to impact over $918 billion worth of imports could raise consumer prices and affect economic growth. Canada and Mexico are prepared to retaliate with counter tariffs.
Donald Trump plans tariffs on Mexico and Canada from Tuesday, while doubling existing 10% tariffs on China
President Trump plans to impose tariffs on Canada and Mexico starting Tuesday, including doubling tariffs on China. He aims to address drug smuggling, particularly fentanyl. The tariffs are expected to impact the global economy, raising concerns about inflation and economic growth among consumers and manufacturers.
Trump claims, US has lost millions of lives because of China
US President Donald Trump has intensified his criticism of China, blaming the country for the fentanyl crisis in the United States, which has claimed millions of lives. Trump emphasized that most fentanyl originates from China, passing through Mexico and Canada. During 2023, fentanyl contributed to approximately 72,000 drug overdose deaths in the US.
Trump trade nominee says universal tariffs worth considering
US President Donald Trump's trade envoy nominee Jamieson Greer told his confirmation hearing Thursday that universal tariffs were worth studying, adding that he would work to restructure global trade ties. A universal tariff "is something that should be studied and considered" to see if it can reverse the direction of the US trade deficit and offshoring, said Greer, a trade lawyer and official in Trump's first administration.
US tariffs on Chinese imports take effect after Trump reprieves Canada and Mexico
U.S. tariffs of 10% on Chinese imports took effect, risking a renewed trade war. President Trump suspended 25% tariffs on Mexico and Canada for 30 days, securing concessions on border and crime enforcement. Beijing faces higher tariffs unless it curbs fentanyl flow. Relief came for Ottawa and Mexico City as they agreed to bolster border enforcement.
Trump plans to speak with Xi Jinping as deadline for China tariffs looms
US President Trump plans to hold talks with China within 24 hours, potentially delaying a 10% tariff on Chinese goods. The discussions may cover illegal Chinese fentanyl and the TikTok app. Trump's prior agreements with Canada and Mexico included delaying tariffs in exchange for stricter border measures.
Trump pauses tariffs on Mexico and Canada, but not China
U.S. President Donald Trump paused his threatened tariffs on Mexico and Canada for 30 days after both countries agreed to enhance border and crime enforcement. Trump warned that tariffs on China would still take effect, with potential increases if fentanyl shipments to the U.S. are not curtailed.
US-Mexico tariff deal: President Donald Trump agreed to delay tariffs as Mexico to deploy 10,000 troops along US border to curb drug smuggling, Here's what it means for both countries
President Donald Trump has agreed to delay the imposition of tariffs on Mexican goods for one month. This decision follows a series of talks with Mexico’s President Claudia Sheinbaum, where both leaders discussed crucial issues such as illegal immigration and drug trafficking, particularly the smuggling of fentanyl, across the US-Mexico border.
How Trump’s tariff on this pain killer could save nearly 100,000 Americans. And Elon Musk is psyched about it
Donald Trump Tarrifs Update: Donald Trump’s pledge to impose significant tariffs on goods from China, Mexico, and Canada is part of his broader strategy to curb illegal drug trafficking, particularly fentanyl. The tariffs will remain until these countries take decisive actions against the illicit drug trade. Tesla CEO Elon Musk has confirmed that the price of fentanyl is expected to rise sharply, following the announcement. Critics and supporters alike are debating the potential impact of Trump’s tariff plans on global trade.
China hails Trump-Xi truce to halt trade war; Promises to import more from US
Trump agreed to postpone for 90 days a scheduled increase in tariffs on USD 200 billion in Chinese imports, while Xi agreed to purchase a very substantial amount of US products so as to reduce the USD 375 billion trade deficit between the two countries.
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