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Trump and Xi Forge Trade Deal; Markets React Mixed

10/30/2025

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Summary

Story summary

U.S. President Donald Trump and Chinese President Xi Jinping announced a trade agreement on October 30, 2025, in Busan, South Korea.
Trump will reduce fentanyl tariffs on China from 20% to 10%.
China will resume soybean purchases and address fentanyl flow to the United States.
Alphabet Inc. shares surged 7% after strong earnings.
Chipotle Mexican Grill, Inc. fell over 18% after missing revenue expectations.

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Story summary

U.S. President Donald Trump and Chinese President Xi Jinping announced a trade agreement on October 30, 2025, in Busan, South Korea.
Trump will reduce fentanyl tariffs on China from 20% to 10%.
China will resume soybean purchases and address fentanyl flow to the United States.
Alphabet Inc. shares surged 7% after strong earnings.
Chipotle Mexican Grill, Inc. fell over 18% after missing revenue expectations.