Following a Washington visit widely described as “cordial,” U.S. and Chinese negotiators have agreed not only to extend the trade truce into early 2027 but also to reciprocally reduce tariffs on $60 billion worth of imports. On Sunday, the White House released a statement outlining the U.S.-China Board of Trade “30-for-30” framework, including links to lists of product types recommended for reduced tariff treatment.
Affected goods include a wide range of mostly consumer products, from agricultural commodities to household appliances to toys. More specifically:
- China will cut tariffs on a variety of U.S. agricultural goods including grains, meat and dairy.
- The U.S. will reduce duties on Chinese-made small appliances, household linens, toys, holiday decorations and “other products that the United States generally does not import from other countries.” (Read the full list here.)
“The United States and China, under the auspices of the new Board of Trade, have recommended $30 billion of trade in non-sensitive goods on each side that could benefit from more favorable tariff treatment in the future,” said United States Trade Representative Jamieson Greer in a statement released Sunday night. A White House document posted Sunday outlined terms of reference for the “30-for-30” framework and hints at potential future tariff reductions.
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The extended trade truce provides a measure of stability, including continued suspension of reciprocal port fees, while allowing more time for further negotiations between the two countries during two upcoming international summits in November and December. Reuters reports that China’s commerce ministry says the pause provides room to resolve economic and trade issues in a “relatively stable and predictable policy environment.”
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Talks are expected to continue, with U.S. and China delegations expected to meet during upcoming international summits in November and December. PPAI will continue to monitor the negotiations and provide updates.