What Changed
- Agreed on working procedures for the China-U.S. Board of Trade to optimize bilateral trade.
- Finalized terms of reference for the '30-for-30' reciprocal tariff reduction framework covering USD 30 billion in trade per side.
- Established an Agricultural Working Group under the Board of Trade planning its first meeting by late 2026.
Importers, exporters, and businesses involved in bilateral trade between mainland China and the United States face notable developments following consensus reached during the eighth round of bilateral economic and trade consultations held in New York and Washington from September 20 to 23. This follows an agreement between the Heads of State of China and the U.S. in Beijing in May 2026 to establish an intergovernmental Board of Trade.
According to a release from China's Ministry of Commerce (MOFCOM), the two sides reached consensus on the working procedures for the China-U.S. Board of Trade, the terms of reference for the "30-for-30" framework, and product lists for reciprocal tariff reductions. The primary mission of the Board of Trade is to optimize bilateral trade by considering arrangements and addressing trade-related issues.
Under the "30-for-30" framework, China and the U.S. agreed to provide reciprocal tariff reductions on imported products valued at approximately USD 30 billion on each side, using 2024 bilateral trade volumes as a baseline. Over 90% of the covered products will be exempted from all additional tariffs imposed by each country and will receive most-favored-nation (MFN) tariff treatment. Each side will reduce tariffs in accordance with its domestic laws and procedures.
The specific product categories identified for tariff reductions reflect market needs and industrial interests:
- The U.S. will reduce tariffs on approximately USD 30 billion of Chinese exports, covering toys, home appliances, baby products, kitchen and bathroom products, and festive gifts.
- China will reduce tariffs on approximately USD 30 billion of U.S. exports, covering agricultural products, personal care products, medical devices, and coal.
The two sides agreed to jointly publish the product lists, with tariff reductions to take effect simultaneously after each country completes its relevant domestic legal procedures.
Additionally, the consensus includes establishing an Agricultural Working Group under the Board of Trade to address regulatory issues, market access, and trade concerns. The working group plans to hold its first meeting by the end of 2026.
Who May Be Affected
Importers, exporters, and manufacturers of covered consumer goods, agricultural products, medical devices, personal care items, and energy products in China and the U.S.
Cross-Border Context
Directly impacts cross-border economic relations and tariff treatment between mainland China and the United States.
What to check next
- Joint publication of the detailed tariff reduction product lists.
- Completion of domestic legal procedures in China and the U.S.
- First meeting of the Agricultural Working Group by late 2026.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.