U.S. and China Unveil Billion Tariff Cut Deal After Trump-Xi Summit

U.S. and China Unveil $60 Billion Tariff Cut Deal After Trump-Xi Summit

U.S. and China release lists of $30 billion in goods for tariff cuts after Trump-Xi meeting, boosting bilateral trade.

September 29, 2026 One Min Read

POLICY WIRE — Hong Kong, China — The United States and China have unveiled reciprocal lists of nonsensitive products worth approximately $30 billion each that will see tariff reductions, marking a significant step toward bolstering bilateral trade following the recent Trump-Xi summit.

The announcement comes days after Chinese President Xi Jinping met with U.S. President Donald Trump in Washington during his first state visit to the U.S. since 2015. The deal includes a wide range of goods from American hair products to Chinese toys, reflecting a mutual effort to ease trade tensions and foster economic cooperation.

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The agreement is expected to eliminate most-favored-nation tariffs on over 90% of the listed products, significantly reducing trade barriers. While sectors like chips, electric vehicles, and batteries were excluded, the move is seen as a positive development for consumer goods and agricultural exports, potentially helping to lower inflation and increase market access for businesses in both countries.

Reporting by Policy-Wire (PW)

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