China and US agree on tariff cuts
China and the United States have reached an agreement to mutually reduce tariffs on goods valued at approximately $30 billion, following the eighth round of economic and trade consultations between them in September 2026. The deal includes reducing about 90% of the covered products to "most-favored-nation" rates, and establishing a "Trade Council" to enhance cooperation and resolve outstanding issues. Chinese coal imports from America are also included in the special arrangement, boosting China's coal imports from the U.S. in 2027 and 2028. Additionally, a "Trade Investment Council" will be formed to strengthen commercial relations between the two countries. These understandings support the economic outcomes stemming from recent meetings between Trump and Xi Jinping.
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