The U.S. and China unveil a $60 billion reciprocal tariff reduction deal...

The U.S. and China unveil a $60 billion reciprocal tariff reduction deal after the Trump-Xi Washington summit, easing duties on $30 billion of goods each way. The “30-for-30” initiative covers non-sensitive products and restores many tariffs to WTO baseline rates. China cuts duties on U.S. agriculture, energy, medical equipment, and consumer goods, while excluding soybeans. The U.S. lowers tariffs on Chinese household goods, toys, and holiday items, while keeping restrictions on rare earths, AI, and semiconductor-related technology. The wider trade truce is extended to January 10.

Monday, 28 September, 2026