• President Xi Jinping calls for an end to unilateral trade actions, underscoring ongoing tensions in US-China negotiations.
  • A 90-day tariff truce extension prevents a steep escalation of duties, capping US tariffs at 30% and Chinese tariffs at 10%.
  • Recent negotiations yield a framework on rare earth exports and a deal allowing NVIDIA and AMD to export certain AI chips to China.

Chinese President Xi Jinping has urged the United States to refrain from taking unilateral trade measures, a call that comes amid a fragile detente in the long-running economic dispute between the world's two largest economies. The appeal reflects deep-seated concerns in Beijing over escalating tariffs and export controls that have defined the bilateral relationship.

The Trump administration recently extended a tariff truce with China by 90 days, pushing the expiration to November 10, 2025, according to people familiar with the negotiations. This move effectively prevents a steep escalation in tariffs for both sides during the crucial holiday retail season, averting what could have been a massive disruption to global supply chains. Without the extension, tariffs could have skyrocketed to as high as 145% on US imports from China and 125% on Chinese imports from the US.

Recent talks have centered heavily on the flow of critical minerals. A framework agreement has been reached to resolve disputes around rare earth exports, ensuring the continued supply of these vital magnets and resources from China to global tech and manufacturing sectors, two officials briefed on the matter said. In a parallel development, the US settled for a deal with chipmakers NVIDIA and AMD, allowing them to export certain AI chips to China in exchange for the US government receiving a 15% share of their China-related sales from these products.

The mutual extension of tariff limits is widely seen as an effort to maintain economic stability and allow more time for complex negotiations to unfold. US businesses reliant on Chinese components, particularly in electronics, have been lobbying aggressively against further escalation, warning of increased costs and supply chain snarls. The situation remains fluid, and officials on both sides expect talks to intensify significantly as the new November deadline approaches.