28th September 2026 – (Beijing) China and the United States have agreed to reduce tariffs on roughly US$30 billion of imports on each side in a reciprocal move, with about 90 per cent of the listed products to be cut to most‑favoured‑nation rates, according to China’s Ministry of Commerce. The arrangement, reached after consultations in New York and Washington from 20th to 23rd September, will be implemented simultaneously once both governments complete the necessary domestic procedures. Officials said further details would be announced in due course and argued the step would help stabilise bilateral trade and create more favourable conditions for Chinese exports to the US.
Beijing also confirmed the two sides had extended the Kuala Lumpur joint arrangement on suspending selected tariff and non‑tariff measures from 10th November 2026 to 10th January 2027, while continuing talks aimed at a mutually agreed solution. The ministry said the time‑bound extension, alongside ongoing engagement, would give businesses a more predictable setting and allow both parties to assess implementation and plan the next stage of economic cooperation.
The latest round of talks formed part of a broader series of eight consultations since last year that delivered a number of mutually beneficial outcomes on trade and investment. China said both countries reaffirmed prior consensuses and would keep working toward additional agreements before year‑end. In financial services, the ministry added that China will, in line with laws and regulations, review and approve applications from overseas institutions, including US‑funded firms, to operate and open branches, and expressed hope that the US would offer Chinese institutions a fair, transparent and stable policy environment.