Group 1 - The US and China mutually reduced tariffs on November 10, with the US lowering tariffs on fentanyl-related products from 20% to 10%, and China suspending retaliatory tariffs on US soybeans up to 15% [2][4] - According to estimates from Japan's Nomura Research Institute, a 10% reduction in tariffs on China could increase global real GDP by approximately 0.04% over three years, with Japan experiencing a 0.05% boost [2][4] - The agreement reached during the US-China summit on October 30 is set to remain in effect until November 10, 2026, with both countries continuing to suspend the implementation of reciprocal tariffs [4] Group 2 - The US Trade Representative announced that the "port fees" imposed on Chinese vessels will be postponed for one year, which could help stimulate global trade and economic recovery [4] - China is expected to resume imports of US soybeans, with plans to import over 12 million tons in 2025 and at least 25 million tons annually from 2026 to 2028 [5] - There are differing views on the adjustment of rare earth export controls, with the US advocating for the complete abolition of past controls, while China has only postponed certain controls for a year [5]