U.S. President Donald J. Trump and Chinese President Xi Jinping have reached a significant trade agreement, easing economic tensions between the two nations. As part of the deal, China will suspend all retaliatory tariffs and lift export controls on rare earth elements and critical minerals. In return, the U.S. will reduce tariffs on Chinese imports by 10% and extend Section 301 exclusions until November 2026. The agreement also includes measures to address fentanyl trafficking and enhance U.S. agricultural exports to China. Additionally, Trump has secured broader trade agreements with Japan, Malaysia, and South Korea, aiming to strengthen economic ties across Asia during his Asia tour.