FX.co ★ Trump, Xi Set to Seal Trade and Tariff Deal

President Trump and Chinese leader Xi Jinping are prepared to finalize a trade and tariff ceasefire this Thursday in South Korea following prolonged tensions. “We’re going to be, I hope, making a deal. I think we’re going to have a deal. I think it will be a good deal for both,” Trump remarked during his visit. He suggested the U.S. might lower tariffs on Chinese imports if China agrees to crack down on precursor chemicals used to make fentanyl, a synthetic opioid linked to the majority of overdose deaths in the U.S. Trump also hinted at a possible resolution concerning TikTok, which faces a U.S. ban unless its Chinese owners divest. Meanwhile, Beijing has expressed a willingness to aim for "positive results," according to foreign ministry spokesperson Guo Jiakun. Previous agreements that reduced retaliatory tariffs to approximately 55% on American goods and 10% on Chinese goods, and reopened the rare earth magnet market, are scheduled to lapse on November 10.