Marketplace Morning Report A one-year trade truce
Oct 30, 2025
Jennifer Pack, Marketplace's China correspondent based in Shanghai, discusses a significant U.S.-China trade truce. She details how both nations will pause export control expansions and cut tariffs by 10%. Interesting insights include China's commitment to curb fentanyl exports, the uncertain future of TikTok's U.S. spin-off, and investor concerns surrounding Meta's mounting AI expenses and declining stocks. Additionally, Pack highlights the Netherlands struggling with grid congestion due to rapid clean energy demands.
AI Snips
Chapters
Transcript
Episode notes
One-Year U.S.-China Trade Truce
- Trump and Xi agreed to a one-year trade truce that eases tensions on multiple fronts.
- The deal suspends planned export-control expansions and cuts some tariffs, but major restrictions remain.
Export Control Pause Eases Immediate Risks
- Both countries will pause expanding certain export controls, including U.S. microchip and Chinese rare-earth curbs.
- The suspension reduces immediate escalation risk but leaves substantial controls intact.
Tariff Cut And Farm Purchases Announced
- Trump announced a 10% reduction in tariffs on Chinese exports and expects renewed Chinese purchases of U.S. farm goods.
- The moves aim to ease trade frictions but do not resolve deep market-access issues.