US unveils $30B China tariff-cut deal details

The United States on Sunday disclosed the details of a previously agreed tariff arrangement with China spanning about $30 billion worth of imports from each country, with roughly 90% of the goods involved set to be granted most-favored-nation (MFN) tariff rates.

Deal stems from New York, Washington talks

The arrangement emerged from economic and trade consultations between Chinese and US teams held in New York and Washington from Sept. 20-23, China's Commerce Ministry, known as MOFCOM, said on Monday. Washington published lists identifying the products eligible for reduced tariff treatment. More than 1,600 Chinese goods imported by the US are covered, among them household items such as plates, kitchenware, bed and table linens, microwave ovens and other small electrical appliances, alongside toys, sporting goods, children's products, games and seasonal decorations.

US farm, energy goods win access

According to the US side, China will lower tariffs on 77 categories of American products, including beef, lamb, poultry, seafood and dairy products, as well as wheat, corn, rice and other grains. Coal, timber, fruit, vegetables, medical equipment and other agricultural, energy and industrial goods are also on the list. MOFCOM said both sides will carry out the tariff cuts at the same time once they complete procedures required under their respective domestic laws. "The Trump administration will continue to pursue fair, balanced, and reciprocal trade with China by ensuring compliance with commitments on agricultural and energy purchases, pursuing balanced trade in non-sensitive goods, and securing market access for American farmers, manufacturers, businesses, and workers," US Trade Representative Jamieson Greer said.

New councils and AI dialogue agreed

"The arrangement will help to further stabilize China-US economic and trade relations and create favorable conditions for China's exports of relevant products to the US," MOFCOM said. The two countries also agreed to set up a bilateral trade council under their economic and trade consultation mechanism, with facilitating bilateral trade as its main task. Tariffs on US coal exports to China will fall within the reciprocal $30 billion tariff-reduction framework, which MOFCOM said would ease Chinese imports of US coal in 2027 and 2028. The sides further agreed to create an investment council and an agricultural working group jointly led by MOFCOM and the Office of the US Trade Representative, with the farm group expected to meet for the first time before the end of 2026. MOFCOM said the two sides also reached an agreement in principle on financial services and established an artificial intelligence dialogue led by Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent. The next AI dialogue is expected before the end of November, and the two sides agreed to open a communication channel for AI-related incidents.