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On November 4, President Trump signed an Executive Order implementing portions of the Kuala Lumpur Joint Arrangement—the trade and economic agreement reached last week with China. The order extends the existing suspension of heightened reciprocal tariffs on Chinese goods through November 10, 2026 in return for commitments from Beijing related to rare earths, semiconductors, and agriculture. The key terms of the deal are as follows:
U.S. Commitments
- Tariffs
- Continued suspension of heightened "reciprocal" tariffs on Chinese goods Until Nov. 10, 2026 (duties remain at 10% base)
- Extension of Section 301 exclusions until Nov. 10, 2026
- Reduced fentanyl tariffs from 20% to 10%, effective Nov. 10, 2025
- 50% Rule
- Suspension until Nov. 10, 2026 of the affiliates interim final rule, which greatly expanded the scope of export restrictions on subsidiary entities
- Shipping Fees
- Suspension until Nov.10, 2026 of fees on Chinese-owned, -operated, or -built vessels.
Chinese Commitments
- Tariffs
- Suspension until Nov. 10, 2026 of all tariffs announced since Mar. 4, 2025
- Suspension until Nov. 10, 2026 of inclusion of certain American entities on China's unreliable entity and end-user list
- Extension of tariff exclusions for imports from the U.S. until Dec. 31, 2026
- Rare Earths and Critical Minerals
- Suspension until Nov. 10, 2026 of rare earth export controls announced on Oct. 9, 2025
- Issuance of general export licenses for rare earths for U.S. end-users, reversing controls imposed in 2022, 2024, and 2025
- Fentanyl and Chemical Controls
- Cessation of shipments of certain fentanyl precursor chemicals to North America and tightening of export controls globally on related substances
- Agriculture
- Purchase of at least 12 million metric tons of U.S. soybeans in late 2025 as well as 25 million annually for 2026 through 2028
- Resumption of purchases of U.S. sorghum and hardwood logs
- Semiconductors
- Termination of AD/CVD investigations targeting U.S. semiconductors
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