The U.S.-China talks in South Korea produced a framework deal favorable to China, with future trade war escalations likely over the next year as Washington and Beijing seek to enforce their own interpretations of the new measures. On Oct. 30, U.S. President Donald Trump met with Chinese President Xi Jinping to discuss trade matters in Busan, South Korea. They announced that the United States will reduce its 20% fentanyl tariff on China to 10%, in exchange for Chinese cooperation on curbing the flow of fentanyl precursor exports. The United States will also forgo its previously threatened 100% additional tariff on China, and has agreed to pause its Section 301 investigation into Chinese shipping, which presumably includes suspending hefty U.S. fees on China-built, -operated or -owned vessels. The U.S. Commerce Department's decision to target all majority-owned subsidiaries of Entity List companies will be suspended for one year as well. China, for...
