As the first U.S.-China summit in about six years was held in Busan on the 30th, the Chinese side said the United States has decided to suspend Section 301 measures against China for one year.
China's Ministry of Commerce answered this way at a regular briefing that afternoon to a question about a recent trade meeting in Malaysia. The Spokesperson said the United States will delay for one year the implementation of Section 301 measures concerning China's shipping, logistics, and shipbuilding industries, and, as U.S. President Donald Trump said immediately after the summit, will also postpone implementation of China's export controls on rare earths.
The Spokesperson added, "The United States will cut the 'fentanyl tariff' imposed on China to 10% and extend for one year the additional 24% tariff on Chinese goods," and "the two sides also reached a consensus on issues such as cooperation on fentanyl drug crackdowns, expanding agricultural trade, and handling individual cases concerning related corporations. We also agreed with the U.S. side to properly resolve issues related to TikTok."
At the Ministry of Foreign Affairs briefing, views were also offered on Korea's plan for nuclear-powered submarines. At the earlier South Korea-U.S. summit, President Lee Jae-myung requested permission to build nuclear-powered submarines, and President Trump accepted it.
Guo Jiakun, the Spokesperson, said on this, "China hopes South Korea and the United States will effectively fulfill their nonproliferation obligations and will not do what undermines, but rather promotes, regional peace and stability," adding, "China walks the path of peaceful development, pursues a defensive defense policy and a foreign policy of good-neighborliness and friendship, and wishes to emphasize that it has consistently been a strong pillar safeguarding regional peace and well-being."
From China's perspective, with Australia moving quickly to introduce nuclear-powered submarines in partnership with the United States, the possibility that geographically closer Korea may also acquire them could heighten Beijing's vigilance. However, ahead of a South Korea-China summit, it appears Beijing emphasized a "principled stance" rather than issuing immediate criticism so as not to sour the mood.