US, China Cut Tariffs on $60 Billion in Goods as 30-for-30 Deal Takes Shape
Updated
Updated · CNN · Sep 28
US, China Cut Tariffs on $60 Billion in Goods as 30-for-30 Deal Takes Shape
3 articles · Updated · CNN · Sep 28
Summary
$60 billion in goods will get lower tariffs under a new US-China arrangement, with each side opening reduced-duty access for $30 billion of “non-sensitive” imports after Trump and Xi met in Washington.
1,619 US products on China’s list include corn, wheat, frozen meat, seafood, cosmetics and medical devices, while the US list covers 77 Chinese items such as toys, tableware, curtains and electric shavers.
10 million metric tons of US coal will be imported by China in 2027 and again in 2028, but soybeans were excluded from the tariff relief, disappointing American farmers hit by the long trade war.
30% of US exports to China could see better market access, the White House said, while the broader tariff truce—30% on Chinese goods and 10% on US goods—has been extended repeatedly until January 10.
40% is how much the US goods trade deficit with China has fallen since Trump took office, according to US Trade Representative Jamieson Greer, as both sides also set up an AI incident channel with another exchange due by November 2026.
With a $30 billion tariff cut on everyday goods, what hidden supply chain threats remain lurking in the critical minerals sector?
As agricultural exports resume under the new truce, are farmers witnessing a genuine market recovery or just temporary government stockpiling?
US-China Strike $30 Billion Tariff Reduction and Extend Trade Truce to January 2027: Inside the September 2026 Washington Summit
Overview
The September 2026 Washington Summit between US President Donald Trump and Chinese President Xi Jinping resulted in a major breakthrough: an eight-point consensus that extends the trade truce to January 2027, introduces reciprocal tariff cuts on $30 billion of non-sensitive goods, and launches new frameworks for AI and military crisis communication. These moves, supported by the activation of a bilateral Board of Trade and a Board of Investment, sparked positive reactions in global markets and made US crops more competitive. However, experts remain skeptical about the durability of these temporary arrangements, as they lack binding enforcement and face ongoing political and economic pressures.