US and China Cut $30bn Tariffs

Officials said on September 28, 2026 that Beijing and Washington have agreed to mutually reduce tariffs on $30 billion of goods. Reaction from markets and trading houses was pending at the time of the announcement.

$30bn tariff reduction

Officials said the package covers goods previously targeted in bilateral tariff rounds but did not publish a list of product categories or the exact tariff cuts. The announcement said the measure is intended to lower barriers to trade between the two economies.

Officials said customs and trade ministries will coordinate next steps; no quantitative timetable was provided with the initial statement. Trade analysts will watch customs data and shipment volumes to assess whether the cuts translate into faster cross-border flows.

Trade and policy implications

Officials said the move could reduce costs for exporters and importers in affected sectors, while domestic producers may seek compensation or protections during implementation. Governments on both sides will need to adjust regulatory and customs procedures to reflect the new duties.

Officials said a detailed implementation timetable will be released by October 12, 2026.