ع
The Chinese Foreign Ministry announced on September 26 that an agreement had been reached with the United States on a $30 billion reciprocal tariff-reduction arrangement during President Xi Jinping’s three-day summit with US President Donald Trump in Washington that concluded the previous day. The deal forms part of a broader eight-point consensus that also includes establishing a trade council and extending outcomes from prior discussions held in Kuala Lumpur. According to the ministry, the two sides will launch a dialogue on artificial intelligence focusing on its risks and benefits with the next meeting set for November. A dedicated communication channel for AI-related incidents was also agreed upon.
The announcement comes one day after the conclusion of the summit between Xi and Trump that emphasized personal diplomacy over major public breakthroughs. US Treasury Secretary Scott Bessent had indicated earlier that the extension of a trade truce due to expire on November 10 would allow more time to pursue a larger agreement. The current arrangement builds upon a framework discussed since May when the two countries first outlined plans for a Board of Trade to handle such tariff adjustments on non-sensitive goods.
In July the Chinese commerce ministry had solicited feedback from businesses, associations and local governments on the proposed tariff cuts. That process mirrored similar outreach by US authorities on eligible goods. The initiative aims to reduce duties on approximately $30 billion in bilateral trade without affecting national security interests.
Chinese Foreign Minister Wang Yi described the visit in a statement as one that enriched the constructive and stable China-US relationship while opening a new chapter in bilateral ties. “This historic visit enriched the constructive and stable China-US relationship, upheld the overall stability of bilateral ties, opened a new chapter in China-US relations, and will have a far-reaching impact on world peace and development,” Wang said. The minister’s comments underscored the perceived long-term significance of the accords.
The tariff agreement extends efforts initiated earlier in the year to ease trade tensions that had escalated previously. Bloomberg News reported that discussions had focused on areas such as agricultural products, energy shipments and manufacturing inputs. These sectors were seen as key to balancing the reciprocal reductions.
Additionally the summit produced a commitment from China to purchase at least 10 million metric tons of US coal in both 2027 and 2028, the White House stated. This pledge accompanies the tariff measures as part of ongoing attempts to stabilize economic relations between the world’s two largest economies. Further details on the specific goods covered by the tariff cuts are expected to emerge in coming weeks as implementation proceeds.
