28.09.2026 Regulation #China #USA #Import #Export #Duties #Trade agreements

US and China agree on tariff relief framework for $30 billion of goods

Following President Xi Jinping's state visit to the United States on September 23–25, 2026, both governments published near-simultaneous readouts: an "eight-point consensus" (Ministry of Foreign Affairs and Xinhua, September 26) and a White House fact sheet (September 25). The central trade outcome is a consensus on recommendations for more favorable tariff treatment on $30 billion of non-sensitive goods in each direction, the launch of trade and investment boards, and an agreement to extend the results of the Kuala Lumpur economic and trade consultations. Both sides describe this as a framework and an instruction to implement it — not tariff cuts that have already taken effect.

US and Chinese goods lists under the $30 billion plan

Per the White House fact sheet, the US export basket under consideration for more favorable Chinese tariff treatment includes agricultural products, fish and seafood, logs, wood products, cosmetics and medical devices. On the US import side, the goods named are small household appliances, toys, holiday decorations and child car seats. The Chinese "eight-point consensus" describes the same figure as a "对等降税安排" — a reciprocal tariff-reduction arrangement worth $30 billion — without publishing its own product list.

Mandates of the trade and investment boards

Both bodies — the Board of Trade and the Board of Investment — were chartered at the May 2026 Beijing summit; the September visit confirmed their launch. According to the White House, the Board of Trade produced the consensus on more favorable tariff treatment for the $30 billion basket and launched a working group focused on removing market-access barriers in the agricultural sector, while the Board of Investment is meant to discuss investment opportunities and investment-related impediments. The Chinese texts explicitly name only the "贸易理事会" (trade council) among the mechanisms the two leaders recognized and instructed to advance, with no separate reference to an investment council in that wording.

Kuala Lumpur suspension extended without a new deadline

A Ministry of Commerce clarification dated May 20, 2026 already described a reciprocal tariff-cut framework of "$30 billion or more" on each side, with agreed goods to receive most-favored-nation rates "or even lower," leaving the specific list to later negotiation. The same clarification confirmed that part of the tariff and non-tariff measures under the Kuala Lumpur arrangement — including the US 24% reciprocal tariff and China's countermeasures — had been suspended until November 10, 2026. The September consensus records an agreement to extend those Kuala Lumpur results ("延期吉隆坡经贸磋商成果") without naming a new expiration date.

Separately, the White House fact sheet states that China will import at least 10 million metric tons of US coal in 2027 and again in 2028 — a commitment distinct from the $30 billion tariff framework. Both sides also referenced continued work on rare earths and critical minerals, without figures or a timeline.

Practical implications for trade

Nothing changes automatically for importers or exporters on either side: both Washington and Beijing describe the outcome as recommendations and consensus, not tariff rates already in force. The specific product list, rates and timing are still to be worked out by trade teams; per the Ministry of Commerce, the two sides agreed to maintain close contact, settle the specific arrangements and push for implementation as soon as possible. Preparatory work was already underway: on September 20 in New York, Vice Premier He Lifeng met US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer to discuss implementation of prior agreements, trade, investment and AI issues. Companies trading in the listed categories — from food and medical devices to appliances and toys — should watch for a detailed product list and a new expiration date for the Kuala Lumpur suspension (November 10, 2026 under the May framework).

Primary sources

This material is for information only and does not constitute legal advice or customs consulting. Verify changes against the primary sources before acting.