US and China seek $30 billion tariff deal ahead of September summit
Beijing and Washington are negotiating reciprocal cuts on non-sensitive goods before Trump and Xi meet in Washington on Sept. 24, with a temporary truce set to expire in November.
China's Commerce Ministry announced on September 10 that negotiators from both countries are working to finalize tariff reductions on $30 billion worth of goods from each side, with both nations pushing for implementation at an early date. The talks represent a key component of a broader U.S.-China Board of Trade mechanism agreed upon by President Donald Trump and Chinese President Xi Jinping at their May 2026 summit in Beijing. Both countries are focusing on equivalent amounts of non-sensitive, non-critical goods while preserving higher tariffs on technology and national security items. Treasury Secretary Scott Bessent has signaled Washington views the $30 billion package as a breakthrough point for bilateral economic relations ahead of their scheduled September 24 meeting at the White House. The push for an agreement carries urgency: the temporary tariff truce reached between the two countries is set to expire on November 10, making the upcoming summit a potential final chance to formalize terms. However, analysts note the economic impact of the $30 billion package may be asymmetrical, with U.S. exporters likely to benefit more than Chinese counterparts given the collapse in bilateral trade volumes following years of elevated duties.
How could this affect you
Traced by who's actually in the path of this — not everyone is.
Likely
If you export goods from the US to China or vice versa
A finalized $30 billion reciprocal tariff cut could reduce duties on non-sensitive goods, potentially lowering input costs and expanding market access; failure to reach an agreement before the November 10 truce expiration could trigger renewed escalation and higher tariffs across the board.
Likely
If you manage supply chains between the US and China
Uncertainty around which specific goods will be included in the tariff cuts and whether an agreement will hold through the truce expiration could delay sourcing decisions and sourcing strategy revisions until terms are finalized after the September 24 summit.
Possible
If you invest in or do business with agricultural exporters or energy producers
US Treasury officials have signaled that energy and agricultural goods are among the non-sensitive items being considered for tariff reductions, potentially creating favorable conditions for those sectors if negotiations succeed.
Sources
Every claim here traces back to reporting you can read yourself.
