In a communication system comprising first and second nodes, a transmit adaptive equalization technique is implemented. The first and second nodes may communicate over a Fiber Channel link or other medium. The first and second nodes comprise respective transmitter and receiver pairs, with the transmitter of the first node configured for communication with the receiver of the second node and the receiver of the first node configured for communication with the transmitter of the second node. The first node receiver is operative to receive from the second node transmitter, responsive to a signal transmitted by the first node transmitter to the second node receiver, information specifying an adjustment to one or more equalization parameters of the first node transmitter. The first node adjusts the equalization parameter(s) in accordance with the received information.