US and China agree on $30B reciprocal tariff cuts, over 90% of products exempt
China's Ministry of Commerce announced on September 28, 2026, that the US and China have reached consensus on a reciprocal tariff reduction framework covering approximately $30 billion in imports each, based on 2024 trade volumes. Over 90% of products will be exempt from all mutual additional tariffs and receive Most-Favored-Nation treatment. The US will lower tariffs on Chinese toys, appliances, baby products, and kitchenware, while China will reduce tariffs on US agricultural products, personal care items, medical devices, and coal. Implementation requires each side to complete domestic legal procedures. An agricultural working group under the Trade Council will hold its first meeting by end of 2026.
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China Commerce Ministry Details US-China Trade Council and $30 Billion Reciprocal Tariff Reduction Framework
China's Ministry of Commerce has released details on the establishment of a US-China intergovernmental trade council and a reciprocal tariff reduction framework, following the eighth round of economic and trade consultations held in New York and Washington from September 20-23, 2026. The trade council, agreed upon by the two heads of state in May 2026, aims to optimize bilateral trade by expanding cooperation and addressing trade issues. Under the framework, both sides have agreed to reciprocally reduce tariffs on approximately $30 billion worth of imports each, based on 2024 bilateral trade volumes. Over 90% of these products will be exempted from all additional tariffs and receive Most-Favored-Nation treatment. The US will lower tariffs on Chinese toys, appliances, baby products, and kitchenware, while China will reduce tariffs on US agricultural products, personal care items, medical devices, and coal. A joint agricultural working group will be established under the council, with its first meeting planned before the end of 2026. The implementation is subject to each side completing its domestic legal procedures.
Read sourceChina Commerce Ministry Details U.S.-China Trade Talks, Including Direct Flights Increase
On September 28, China's Ministry of Commerce released interpretations of the eighth round of U.S.-China economic and trade consultations held in New York and Washington from September 20-23. The consultations achieved positive consensus, contributing to the economic and trade outcomes for a potential meeting between the two heads of state. Key outcomes include a reciprocal tariff reduction arrangement covering approximately $30 billion in goods, with about 90% of tariffs on each side reduced to most-favored-nation rates, pending domestic legal procedures. The two sides also agreed to expand coal trade, with China's import tariffs on U.S. coal included in the tariff reduction framework, aiming for annual imports in 2027 and 2028. The consultations extended the Kuala Lumpur joint arrangement on tariff and non-tariff measures until January 10, 2027. On direct flights, the two sides exchanged views on increasing passenger flights and agreed to maintain communication on the matter. Other areas of consensus include the Trade Council, Investment Council, agricultural working group, financial services, and artificial intelligence dialogue.
Read sourceChina and US Reach Framework for $30 Billion Reciprocal Tariff Reduction Deal
According to China's Ministry of Commerce, China and the United States have reached a consensus under the Trade Council framework on a reciprocal tariff reduction arrangement covering approximately $30 billion in bilateral trade (based on 2024 trade volumes). Both sides agreed to provide reciprocal tariff reductions on imports of about $30 billion each, subject to their respective domestic legal procedures. Over 90% of the products covered will be exempted from all mutually imposed tariffs and will receive Most-Favored-Nation (MFN) tariff treatment. The US will lower tariffs on approximately $30 billion of Chinese imports including toys, home appliances, baby products, kitchenware, and holiday gifts. China will reduce tariffs on about $30 billion of US imports including agricultural products, personal care items, medical devices, and coal. Both sides will publish their respective product lists and implement the reductions simultaneously after completing domestic legal procedures. The arrangement aims to stabilize bilateral trade, improve conditions for Chinese exports to the US, meet domestic market demand, and enhance cooperation in agriculture, energy, manufactured goods, and consumer products. The two sides also agreed to establish an agricultural working group under the Trade Council to discuss regulatory and market access issues, with its first meeting planned before the end of 2026.
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China Commerce Ministry: US-China Agree on $30B Reciprocal Tariff Cuts, Over 90% of Products Exempt
On September 28, China's Ministry of Commerce announced that the US and China have reached a consensus on a '300 billion vs 300 billion' reciprocal tariff reduction framework under the China-US Trade Council. Both sides agreed to provide reciprocal tariff reductions on approximately $30 billion worth of imported products each, based on 2024 bilateral trade volumes. Over 90% of these products will be exempt from all mutual additional tariffs and will receive Most Favored Nation treatment. The US will lower tariffs on about $30 billion of Chinese imports including toys, home appliances, baby products, kitchenware, and holiday gifts. China will lower tariffs on about $30 billion of US imports including agricultural products, personal care items, medical devices, and coal. The tariff reductions will be implemented simultaneously after both sides complete their respective domestic legal procedures. The agreement also establishes an agricultural working group under the Trade Council, with its first meeting planned before the end of 2026. The framework aims to stabilize bilateral trade and expand cooperation in agriculture, energy, manufactured goods, and consumer products.
Read sourceChina Commerce Ministry Announces US-China Trade Council and $30 Billion Reciprocal Tariff Reduction Framework
China's Ministry of Commerce announced the establishment of a US-China Trade Council and a $30 billion reciprocal tariff reduction framework following the eighth round of economic and trade consultations held in New York and Washington from September 20-23, 2026. The Trade Council aims to optimize bilateral trade and provide a platform for cooperation. Under the framework, both sides agreed to reduce tariffs on approximately $30 billion worth of imports from each other, with over 90% of products returning to Most Favored Nation tariff levels. The US will lower tariffs on Chinese toys, appliances, and baby products, while China will reduce tariffs on US agricultural goods, medical devices, and coal. An Agricultural Working Group was established under the council. Additionally, the two sides agreed to create an investment council, extend the Kuala Lumpur joint arrangement until January 10, 2027, and establish an AI dialogue led by Vice Premier He Lifeng and Treasury Secretary Bessent. The parties also discussed increasing direct passenger flights and reaffirmed commitments to implement previous consultation consensus.
Read sourceChina Commerce Ministry Announces US-China Trade Council and Reciprocal Tariff Reduction Framework
On September 28, 2026, China's Ministry of Commerce announced details of the US-China Trade Council and a reciprocal tariff reduction framework involving $30 billion on each side. The framework was agreed upon during the eighth round of economic and trade consultations held in New York and Washington from September 20-23, 2026, following a May 2026 summit between the two countries' heads of state in Beijing. The Trade Council aims to optimize bilateral trade, extend cooperation, and address trade issues. Under the framework, both sides will reduce tariffs on approximately $30 billion worth of imports (based on 2024 trade volumes), with over 90% of products receiving most-favored-nation tariff treatment. The US will lower tariffs on Chinese toys, appliances, baby products, kitchenware, and holiday gifts, while China will reduce tariffs on US agricultural products, personal care items, medical devices, and coal. A joint agricultural working group under the council is planned to meet by end of 2026 to discuss regulatory and market access issues.
Read sourceChina and US Agree on Trade Council and Reciprocal Tariff Reduction Framework
According to a report from China's state broadcaster CCTV, published on Tencent Stock, China and the United States have reached agreements on the establishment of a bilateral government trade council and a reciprocal tariff reduction framework. The agreements were reached during the eighth round of economic and trade consultations held in New York and Washington from September 20-23, 2026. The trade council is tasked with optimizing bilateral trade and providing a platform for cooperation. Under the '300 billion vs 300 billion' framework, both sides agreed to reduce tariffs on approximately $30 billion worth of each other's imports, based on 2024 trade volumes. Over 90% of these products will have all retaliatory tariffs removed and revert to Most-Favored-Nation (MFN) rates. The US will lower tariffs on Chinese toys, appliances, baby products, and kitchenware, while China will lower tariffs on US agricultural products, personal care items, medical devices, and coal. The two sides also agreed to establish an agricultural working group under the trade council, with its first meeting planned before the end of 2026. The report presents these developments as a positive step for stabilizing trade relations.
Read sourceChina Commerce Ministry Details US-China Trade Council and $30B Tariff Reduction Framework
China's Ministry of Commerce announced details of the US-China Trade Council and a reciprocal tariff reduction framework involving $30 billion in goods. The framework was agreed upon during the eighth round of economic and trade consultations held in New York and Washington from September 20-23, 2026, following a May 2026 summit in Beijing. The Trade Council aims to optimize bilateral trade and provide a platform to expand cooperation and reduce disputes. Under the framework, both sides will reduce tariffs on approximately $30 billion of imports (based on 2024 trade volumes), with over 90% of products receiving full exemption from retaliatory tariffs and reverting to Most-Favored-Nation treatment. The US will lower tariffs on Chinese toys, appliances, baby products, and festive items, while China will reduce tariffs on US agricultural products, personal care items, medical devices, and coal. A joint agricultural working group will be established under the council to address regulatory and market access issues, with its first meeting planned before the end of 2026.
Read sourceChina Commerce Ministry Interprets Eighth Round of US-China Trade Talks Results on Agriculture
The Chinese Ministry of Commerce's Department of American and Oceanian Affairs provided an official interpretation of the outcomes from the eighth round of US-China economic and trade consultations held from September 20-23 in New York and Washington. Key results include a consensus on a reciprocal tariff reduction arrangement covering approximately $30 billion in goods from each side, with about 90% of products from each country having their tariffs reduced to Most-Favored-Nation rates, pending domestic legal procedures. An Agriculture Working Group was established under the China-US Trade Council, co-led by China's Ministry of Commerce and the USTR, with relevant regulatory agencies participating, to discuss bilateral market access and regulatory issues; its first meeting is scheduled before the end of 2026. Additionally, the two sides agreed to extend the Kuala Lumpur Joint Arrangement on trade issues from November 10, 2026, to January 10, 2027, while continuing discussions toward a mutually agreed solution, aiming to provide a stable and predictable policy environment for businesses.
Read sourceChina and US Agree to Extend Kuala Lumpur Trade Consultation Arrangement to January 2027
On September 28, the Chinese Ministry of Commerce's Department of American and Oceanian Affairs head interpreted the results of the eighth round of China-US economic and trade consultations. In October 2025, the two sides reached a joint arrangement in Kuala Lumpur to address their respective concerns on trade issues, agreeing to suspend the implementation of certain tariffs and non-tariff measures until November 10, 2026. During the latest round of consultations, China and the US agreed to extend this Kuala Lumpur joint arrangement until January 10, 2027, and to continue actively discussing the matter with the aim of reaching a mutually agreed solution. The report is attributed to the Chinese Commerce Ministry and sourced from tradealpha.
Read sourceChina Commerce Ministry Interprets Outcomes of 8th Round of US-China Trade Consultations
The Chinese Ministry of Commerce's Department of American and Oceanian Affairs issued a briefing on the outcomes of the eighth round of U.S.-China economic and trade consultations held from September 20-23 in New York and Washington. Key results include agreement to establish a U.S.-China Trade Council under the bilateral consultation mechanism to optimize trade, with an initial focus on a '300 billion vs 300 billion' reciprocal tariff reduction framework, where each side will cut tariffs on about $30 billion of imports, with roughly 90% of products reduced to most-favored-nation rates. A U.S.-China Investment Council was also agreed upon for regular dialogue on investment opportunities and barriers. An agricultural working group under the Trade Council was established to address market access and regulatory issues. The two sides reached principled consensus on financial services, agreeing to fair treatment for each other's financial institutions. An artificial intelligence dialogue was launched between Vice Premier He Lifeng and Treasury Secretary Bessent, with a follow-up meeting scheduled by end of November 2024. The Kuala Lumpur joint arrangement on tariff suspensions was extended to January 10, 2027. Both sides also agreed to increase direct passenger flights and reaffirmed commitment to implementing all previous consultation consensus.
Read sourceChina and US Agree to Establish Agricultural Working Group Under Bilateral Trade Council
On September 28, a Chinese Commerce Department official interpreted the outcomes of the eighth round of China-US economic and trade consultations. In May of this year, the two countries' economic and trade teams reached a series of positive consensus on resolving some non-tariff barriers and market access issues for agricultural products, and agreed in principle to include related products in a '300 billion vs 300 billion' reciprocal tariff reduction framework. Subsequently, the teams conducted professional and pragmatic consultations on agricultural issues. Against this backdrop, both sides agreed to establish an agricultural working group under the China-US Trade Council, co-led by China's Ministry of Commerce and the Office of the United States Trade Representative, with participation from relevant regulatory agencies of both countries. The working group will discuss issues such as bilateral market access and regulation for agricultural products. Both sides agreed to hold the working group's first meeting before the end of 2026. China stated it will use the working group meetings to continue urging the US to address China's agricultural concerns.
Read sourceChina and US Agree to Establish Investment Council Under Bilateral Trade Consultation Mechanism
On September 28, the Ministry of Commerce's Department of American and Oceanian Affairs issued an interpretation of the outcomes of the eighth round of China-US economic and trade consultations. According to the official statement, both sides have agreed to establish a China-US Investment Council under the existing bilateral economic and trade consultation mechanism. The council is designed to create an institutionalized communication platform, enabling regular dialogue between the two countries' economic and trade teams on potential investment opportunities and barriers. The stated goal is to enhance policy transparency and predictability, and to respond to the legitimate concerns of businesses, all while complying with the respective laws and regulatory requirements of each country.
Read sourceChina and US Agree to Establish Trade Council Under Bilateral Consultation Mechanism
On September 28, China's Ministry of Commerce (MOFCOM) Department of American and Oceanian Affairs released an interpretation of the outcomes of the eighth round of China-US economic and trade consultations. Following negotiations, both sides agreed to establish a China-US Trade Council under the existing bilateral economic and trade consultation mechanism. The council's primary mission is to optimize bilateral trade. The respective economic and trade teams have reached consensus on the council's tasks, structure, responsibilities, and consultation arrangements, with details to be announced later. The Trade Council will first discuss a framework for reciprocal tariff reductions on $30 billion worth of goods from each side, aiming to reach an agreement. An agricultural working group has been established under the council, and other arrangements to optimize bilateral trade will also be considered.
Read sourceChina and US Agree to Establish Agricultural Working Group Under Trade Council
According to a statement from the Chinese Ministry of Commerce's Department of American and Oceanian Affairs, China and the United States have agreed to establish an agricultural working group under the China-US Trade Council. This agreement follows the eighth round of China-US economic and trade consultations. In May of this year, the two sides reached a series of positive consensuses on resolving some non-tariff barriers and market access issues for agricultural products, and agreed in principle to include related products in a '300 billion for 300 billion' reciprocal tariff reduction framework. Subsequent professional and pragmatic consultations on agricultural issues led to the decision to create the working group, which will be co-led by China's Ministry of Commerce and the U.S. Trade Representative's Office, with participation from relevant regulatory agencies of both countries. The group will discuss issues such as bilateral market access and regulatory matters. Both sides agreed to hold the working group's first meeting by the end of 2026. China stated it will use the working group meetings to continue urging the U.S. to address China's agricultural concerns.
China and US Agree to Establish Investment Council Under Bilateral Trade Consultation Mechanism
On September 28, Jin10 Data reported that the Chinese Ministry of Commerce's Department of American and Oceanian Affairs interpreted the outcomes of the eighth round of China-US economic and trade consultations. Following the negotiations, both sides agreed to establish a China-US Investment Council under the existing bilateral trade consultation mechanism. The council is designed to create an institutionalized communication platform for the two countries. The economic and trade teams from both nations will engage in regular dialogue focusing on potential investment opportunities and investment barriers. The stated goal is to enhance policy transparency and predictability, while responding to the legitimate concerns of businesses, all in accordance with the respective laws and regulatory requirements of each country.
China and US Agree to Establish Trade Council Under Bilateral Consultation Mechanism
According to a September 28 report by Jin10, citing China's Ministry of Commerce, the US and China have agreed to establish a China-US Trade Council under the bilateral economic and trade consultation mechanism following the eighth round of China-US economic and trade consultations. The primary task of the council is to optimize bilateral trade. The trade teams from both sides have reached consensus on the council's mission, structure, responsibilities, and consultation arrangements, with details to be announced later. The Trade Council will first discuss a framework for reciprocal tariff reductions on $30 billion worth of goods each, aiming to reach an agreement. An agricultural working group has been established under the council, and other arrangements to optimize bilateral trade will also be considered.
Read sourceChina Commerce Ministry Says US-China Talks Yield Consensus on $30 Billion Reciprocal Tariff Cuts
According to a report by Red Star Capital Bureau citing the Chinese Ministry of Commerce, the eighth round of US-China economic and trade consultations was held from September 20 to 23 in New York and Washington, achieving positive consensus. The Ministry's Americas and Oceania Department head detailed the outcomes. The two sides agreed to establish a China-US Trade Council under the bilateral trade consultation mechanism to optimize bilateral trade. Within this framework, they reached consensus on reciprocal tariff reductions covering approximately $30 billion of imports from each other, with about 90% of products from each side having tariffs reduced to Most-Favored-Nation rates. A China-US Investment Council was also agreed upon for regular dialogue on investment opportunities and barriers. The sides agreed to establish a dialogue on artificial intelligence risks and benefits, with the next meeting scheduled before the end of November, and a communication channel for AI incidents. In financial services, China stated it will process applications from US and other foreign financial institutions to operate and establish branches in accordance with laws and regulations, and expressed hope for a fair, transparent, and stable policy environment for Chinese institutions in the US. The two sides also exchanged views on increasing direct passenger flights and agreed to maintain communication on related matters.
Read sourceChina Commerce Ministry Details US-China Trade Council and $30 Billion Reciprocal Tariff Reduction Framework
In May 2026, the US and Chinese presidents agreed in Beijing to establish a bilateral trade council. Following the eighth round of economic and trade consultations held in New York and Washington from September 20-23, 2026, both sides reached consensus on the council's working procedures, a $30 billion reciprocal tariff reduction framework, and product lists. The trade council aims to optimize bilateral trade, lengthen the cooperation list, and reduce the problem list, supporting a constructive strategic stable relationship. Under the framework, each side will reduce tariffs on approximately $30 billion of imports (based on 2024 trade volumes) on a reciprocal basis, with over 90% of products receiving full exemption from retaliatory tariffs and most-favored-nation treatment. The US will lower tariffs on Chinese toys, appliances, baby products, and kitchenware; China will lower tariffs on US agricultural products, personal care items, medical devices, and coal. Both sides will implement the reductions after completing domestic legal procedures. A new agricultural working group under the council will address regulatory and market access issues, with its first meeting planned by end of 2026.
Read sourceChina Commerce Ministry Details $30B Reciprocal Tariff Cuts with US on Toys, Appliances, Farm Goods
On September 28, China's Ministry of Commerce released details of the '300 billion vs 300 billion' reciprocal tariff reduction framework agreed upon with the United States. The framework, established under a bilateral trade council agreed to by the two countries' presidents in May 2026, was finalized during the eighth round of economic and trade consultations held in New York and Washington from September 20-23. Under the agreement, both sides will provide reciprocal tariff reductions on approximately $30 billion worth of imports (based on 2024 bilateral trade volumes), with over 90% of products having all mutual tariffs eliminated and reverting to Most-Favored-Nation treatment. The US will reduce tariffs on about $30 billion of Chinese imports including toys, home appliances, baby products, kitchen and bathroom items, and holiday gifts. China will reduce tariffs on about $30 billion of US imports including agricultural products, personal care items, medical devices, and coal. Both sides agreed to publish their respective product lists and implement the tariff cuts simultaneously after completing domestic legal procedures. A new agricultural working group under the trade council was also established to address regulatory and market access issues, with its first meeting planned before the end of 2026.
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