TRUMP-XI SUMMIT: WHAT YOU NEED TO KNOW 💡
The meeting produced several concrete trade agreements:
1. Tariffs: U.S. cut the fentanyl-related tariff from 20% to 10%, bringing average tariffs on Chinese goods to 47%
2. Agriculture: China agreed to resume large purchases of U.S. soybeans, sorghum and other farm products
3. Chips: China will negotiate with Nvidia on chip purchases, but next-generation Blackwell chips remain excluded
4. Rare earths: China agreed not to tighten export restrictions for one year
5. Trade truce: Extended until January 10, but only for two months
6. Port fees: Both sides agreed not to raise fees on each other’s vessels
Still unresolved:
1. TikTok: No finalized deal
2. Taiwan: Not discussed during the 1h40m meeting
The key question for markets now is whether the agreements reduce trade uncertainty or if unresolved issues bring volatility back.