The Ministry of Commerce published details regarding the China-U.S. Trade Council and the "30 billion for 30 billion" reciprocal tariff reduction framework on its official website on September 28.

In May 2026, the heads of state of China and the United States met in Beijing and agreed to establish an intergovernmental trade council. From September 20 to 23, the two sides held their eighth round of economic and trade consultations in New York and Washington, reaching consensus on the working procedures of the China-U.S. Trade Council, the terms of reference for the "30 billion for 30 billion" reciprocal tariff reduction framework, and the list of products subject to tariff reductions.

According to the working procedures, the trade council's mission is to optimize bilateral trade, and it will discuss arrangements for optimizing bilateral trade and issues affecting trade. It is believed that the trade council will provide an important platform and institutional guarantee for China and the United States to continuously expand the cooperation list and shrink the problem list in the economic and trade field, helping to build a constructive and stable strategic relationship between the two countries.

Within the framework of the trade council, China and the United States reached consensus on a $30 billion reciprocal tariff reduction framework. The two sides agreed that, on the basis of complying with their respective domestic laws and procedures, they will provide reciprocal tariff reduction treatment for imports valued at approximately $30 billion each (based on 2024 bilateral trade volume). Of these, more than 90% of the products will be exempted from all mutually imposed additional tariffs and enjoy most-favored-nation tariff treatment.

Based on their respective market needs and industrial interests, the two sides agreed on a list of products for reciprocal tariff reductions. The United States will reduce tariffs on approximately $30 billion of Chinese imports, including toys, home appliances, baby products, kitchen and bathroom supplies, and holiday gifts. China will reduce tariffs on approximately $30 billion of American imports, including agricultural products, personal care products, medical devices, and coal. The two sides agreed to jointly publish their respective lists of tariff-reduced products. Subsequently, after completing their respective domestic legal procedures, the two sides will implement the tariff reductions simultaneously. This arrangement will help stabilize China-U.S. trade, create better conditions for the export of related Chinese products to the United States, and also help meet domestic market demand and strengthen bilateral trade cooperation in areas such as agricultural products, energy, manufactured goods, and consumer goods.

The two sides agreed to establish an agricultural working group under the trade council to discuss related issues including regulation and market access, address trade concerns, and expand practical cooperation in the agricultural field. The agricultural working group plans to hold its first meeting before the end of 2026. China will continue to push the United States through the working group meetings to resolve China's concerns in the agricultural field. For specific outcomes of the China-U.S. economic and trade consultations, please see "Read the original text."