trade news

Update on China/US Trade Deal – 30

Daniel Cooke

November 3, 2025

Over the weekend, the White House released a fact sheet to supplement the announcement by Presidents Trump and Xi on the China/US trade deal.  Below are the highlights:

  • Fentanyl-related tariff layer reduced to 10% effective November 10th, 2025 at the port of entry. Note: Other applicable tariffs (including Section 301) remain in effect, but this reduction lowers the overall tariff burden on affected China-origin goods
  • The reciprocal tariff rate on China-origin goods will not increase for at least one year
  • Port fees imposed by both the US and China on each other’s vessels will be paused for one year
  • The US will extend current Section 301 tariff exclusions due to expire on November 29th, 2025 through November 2026
  • China will suspend export controls on rare earth materials and issue general export licenses for US end users, restoring supply flow for electronics, batteries, aerospace, defense, and related industries
  • China will end retaliatory actions against US semiconductor companies
  • China will suspend retaliatory tariffs on US agricultural products and resume large-scale purchases of soybeans and other commodities
  • You can view the fact sheet here.

If you need support, Alba can assist with:

  • Tariff impact audits under the revised rates
  • Alternate sourcing and compliance scenario mapping
  • Drawback evaluations for goods re-exported or destroyed

Simply contact us and we can set up a discussion.

Looking Ahead: IEEPA Tariff Review

Later this week, the Supreme Court will begin reviewing challenges to the IEEPA-based tariffs.  At this point, the most important action for importers is to monitor liquidation dates to preserve refund eligibility if refunds become available.

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