Chinese President Xi Jinping emerged with clear advantages in a sweeping new agreement with the United States, following months of tension sparked by President Donald Trump’s “Liberation Day” offensive in April.

Under the deal, Trump agreed to cut tariffs on Chinese imports to 47% from 57%, slashing penalties on goods linked to fentanyl precursor chemicals by half. Xi, in turn, offered only a pledge to “work very hard” to curb fentanyl flows.

Beijing also secured a major concession: a one-year U.S. delay on a measure that would have barred thousands of Chinese firms from accessing American technology, a move widely seen as a victory for China’s tech sector.

On trade, China’s commitments were modest compared with its previous import levels. Beijing will buy 12 million metric tons of U.S. soybeans through January and 25 million tons annually over the next three years.

Overall, the agreement restores the pre-April status quo largely on China’s terms, with Washington easing economic pressure and Beijing retaining leverage across trade, technology, and security. Global markets, already priced for de-escalation, reacted quietly, a sign that investors saw the outcome as a diplomatic win for Xi.

Trump, the so called master of the deal has been taught how negotiating really works by the master statesman Xi Jinping.