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We break down the Oct 30 Trump–Xi meeting: tariff cuts (~10 pts), a one-year pause on rare-earth export controls, 301 exclusions extended, and what US importers should do next (HS codes, DDP renegotiations, buffer stock, diversification). Chapters below. EPISODE SECTIONS 00:32 – Setting the scene: Trump–Xi met in South Korea (Oct 30). Expectations vs reality. 01:16 – Renaud’s first take: anticipation vs limited outcomes 04:47 – Rare earths & magnets: one-year pause on export controls and why it matters 07:22 – Tariffs: tone softens; specific cuts hit “fentanyl punishment” lines (20%→10%) 09:43 – What that means to landed cost (example: 54%→44%) 11:06 – Planning stability: from 90-day chaos to ~12 months of predictability 11:47 – Fentanyl precursors: enforcement complexity & policy trade-offs 14:00 – Section 301 exclusions extended (medical, electronics, HVAC, solar examples) 16:59 – What importers should do: horizons, HS discipline, alternatives, and risk 19:20 – Substantial transformation & multi-country routing: when it makes sense 22:00 – DDP renegotiations & compliance exposure 22:59 – Buffer stock & design tweaks to reduce magnet dependence 26:33 – Long-term trajectory: conflict risk and diversification logic 28:03 – China reactions round-up & closing thoughts 30:42 – Outro RELATED CONTENT Reuters U.S.–China headlines & rare‑earth pause - https://www.reuters.com/sustainabilit... Politico: ‘Amazing meeting’: Trump touts progress on multiple fronts with China after meeting Xi - https://www.politico.com/news/2025/10... Guardian: First Thing: Trump says rare earths deal and tariff cut agreed with China - https://www.theguardian.com/us-news/2... Xinhua (English): China unveils outcomes of China-U.S. economic, trade talks in Kuala Lumpur - https://english.news.cn/20251030/85ac... MOFCOM (English) — 2025 announcement page (export declaration/controls reference; for primary-source language & numbering) - https://english.mofcom.gov.cn/Policie... USTR Section 301: https://ustr.gov/issue-areas/enforcem... - https://ustr.gov/issue-areas/enforcem... CBP Trade: https://www.cbp.gov/trade - https://www.cbp.gov/trade