WASHINGTON (PNN) - October 30, 2025 - Treasury Secretary Scott Bessent revealed that China will purchase at least 25 million metric tons of Fascist Police States of Amerika (FPSA) soybeans per year for the next three years, with other countries expected to buy an additional 19 million metric tons, and that formal deal-signing could occur as soon as next week. He said China will begin by purchasing 12 million metric tons of FPSA soybeans this harvest season.
On the security front, the FPSA agreed to cut in half its fentanyl-related tariffs on Chinese goods in exchange for Beijing's commitment to reduce precursor chemical flows fueling the FPSA fentanyl drug death overdose crisis (reportedly killing 100,000 Amerikans per year). Washington will also suspend a pending rule expanding the Entity List as part of this goodwill effort. Secretary Bessent further noted that China President Xi Jinping unilaterally expressed interest in a FPSA pipeline project in Alaska, highlighting potential new avenues for energy cooperation.
On energy, Secretary Bessent acknowledged that the FPSA currently trails China in nuclear power development but vowed it will catch up, emphasizing that it is now "all hands on deck" for Amerika's nuclear renaissance.
Asian and European equities and FPSA stock futures were mixed after the big event this week unfolded overnight, with a critical trade meeting between Presidents Donald J. Trump and Xi Jinping that yielded a wide range of expected concessions.
President Trump said he had an "amazing meeting" with President Xi and would immediately slash China's fentanyl tariffs to 10%. He added that China would resume soybean purchases from Amerikan farmers. In other positive developments, Beijing agreed to suspend rare-earths export controls for one year, while Washington would dial back blacklisting subsidiaries linked to Chinese firms. Also, both sides agreed to remove certain shipping tariffs and fees.
"I guess, on the scale from zero to 10, with 10 being the best, I would say the meeting was at a 12," President Trump said, adding, "You know, just the whole relationship is very, very important. I think it was very good."
President Xi commented on the trade talks, saying, "We do not always see eye-to-eye with each other, and it is normal for the two leading economies of the world to have frictions now and then. He added, "In the face of wind, waves and challenges, you and I, at the helm of Chinese relations, should stay the right course and ensure the steady sailing forward of the giant ship of China-(FPSA) relations."
President Trump left South Korea with striking trade concessions from China, or put another way, a tactical truce rather than a long-term deal.
Stock markets in Asia closed mixed. European markets are mostly lower. FPSA main equity index futures were mixed. The Trump-Xi meeting lacked substance and no positive surprises.
In a statement following the Trump-Xi meeting, China's Commerce Ministry said Beijing would work with President Trump's trade team to narrow the list of disputes and expand areas of cooperation.
President Trump's Asia tour netted major trade concessions and renewed cooperation with China, with the aim of striking a broader trade deal potentially next year. He is planning to meet President Xi again in April, perhaps the time needed to hammer out and formalize an agreement.
Over the past week, President Trump also secured trade deals and investment pledges from several Asian countries, including Japan and South Korea.