China Says US Agreed to a Maximum Tariff Rate. Could the Trade War Be Waning?
China said the proposed tariff cuts would cover $30 billion or more in goods on each side, as both countries seek to extend their trade truce.
- On Wednesday, China's Ministry of Commerce announced that Beijing and Washington agreed to discuss a framework for reciprocal tariff reductions on products worth at least $30 billion on each side.
- These discussions follow a one-year truce negotiated in Kuala Lumpur last October, which suspended reciprocal tariffs and non-tariff measures until November 10 this year.
- Confirming outcomes from the Xi-Trump summit, the Ministry said China would purchase 200 aircraft from Boeing and restore registrations for some U.S. beef exporters that lapsed last year.
- Analysts suggest the pledge signals a shift in relations between the world's two largest economies, moving away from unilateral trade shocks toward a phase of "managed competition."
- Beijing urged Washington to further roll back unilateral tariffs through follow-up consultations, while the U.S. committed to keeping future levies no higher than Kuala Lumpur levels.
14 Articles
14 Articles
Beijing, China. China agreed to work with the United States to reduce tariffs that affect tens of billions of dollars in goods on both sides, according to an official Chinese communiqué released on Wednesday, a few days after President Donald Trump's visit to Beijing.The world's two major economies spent much of 2025 engaged in an increasingly intense trade war, until both leaders reached a one-year truce during their meeting in South Korea in O…
China reported on Wednesday discussions with the United States to reduce their tariffs on tens of billions of dollars of goods, in an effort to relax after Donald Trump's recent visit.
A few days after the US President's visit to Beijing, the Chinese Ministry of Trade announced that the two countries have agreed to discuss a framework agreement with reduced tariffsPekin will work with Washington to reduce tariffs on goods worth tens of billions of dollars for each country, said the Ministry of Trade on Wednesday, a few days after US President Donald Trump's visit to China.
Beijing will work with Washington to reduce tariffs on goods worth tens of billions of dollars for each country.
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