New China-US Reciprocal Tariff Framework Unveiled On 28 September

China's Ministry of Commerce unveiled the reciprocal tariff reduction framework on 28 September, following the 8th round of China-US economic and trade consultations.

Both sides agreed to cut tariffs on around USD 30 billion worth of goods imported from each other. More than 90% of the covered products will revert to normal MFN (most-favored-nation) tariff rates. The US will reduce duties on Chinese toys, home appliances, baby goods, kitchen & bathroom products. China will lower tariffs on US agricultural goods, medical devices, coal and personal care items.

This tariff arrangement will take effect simultaneously once both countries complete domestic legal procedures. A China-US Trade Council will be established as a regular channel to resolve trade issues.