China

The U.S. will cut tariffs on Chinese goods imposed to curb fentanyl by 10 percentage points starting November 10, 2025 and maintain the suspension of additional equal tariffs until November 10, 2026.

China and the United States achieved significant breakthroughs in trade consultations held in Kuala Lumpur, injecting fresh momentum into bilateral cooperation amid a complex global economic landscape.

Chinese President Xi Jinping and US President Donald Trump met in Busan on October 30, marking a key step toward stabilizing China-US relations.

U.S. and China are set to negotiate a trade deal that could slash tariffs on certain Chinese goods by half, from 20% to 10%, as reported.

On 28 October, China and ASEAN signed the Protocol on Upgrading the China-ASEAN Free Trade Area to Version 3.0 in Kuala Lumpur, Malaysia.

From July 3 to 4, the second meeting of the Joint Committee on the China-Georgia Free Trade Agreement (FTA) and the first round of negotiations for upgrading the agreement were held in Beijing.

Its implementation is expected to unlock the potential for enhanced cooperation in services trade and investment, advancing the forward-looking, high-quality partnership between China and Singapore.

Amid ongoing international attention on the Russia-Ukraine conflict, the Council of the European Union approved its 15th sanctions package against Russia on December 16, 2024, under Council Decision (CFSP) 2024/3182.