GO
| HSI1 | 24,642.51 | +132.42 | 177.48B |
| HSCEI1 | 8,216.84 | +51.06 | 51.28B |
| Back Zoom + Zoom - Block Traded | |
|
CN MOC: CN to Cut Tariffs on ~USD30B of US Imports Incl. Agricultural Products, Personal Care Products, Medical Devices and Coal
2026-09-28 11:37:23 China's Ministry of Commerce announced details regarding the US-China Trade Council and the "USD30 billion for USD30 billion" reciprocal tariff reduction framework. Both sides agreed to provide reciprocal tariff reduction treatment for imported products worth approximately USD30 billion each (based on 2024 bilateral trade value), subject to their respective domestic laws and procedures. More than 90% of the products will be exempted from all additional tariffs imposed on each other and will enjoy most-favored-nation tariff treatment. Based on respective market demand and industrial interests, both sides agreed on a reciprocal tariff reduction product list. The US side will reduce tariffs on approximately USD30 billion worth of imports from China, including toys, home appliances, baby products, kitchen and bathroom products, and holiday gifts. China will reduce tariffs on approximately USD30 billion worth of imports from the US, including agricultural products, personal care products, medical devices and coal. Both sides agreed to jointly publish their respective tariff reduction product lists. Subsequently, after completing their respective domestic legal procedures, both sides will simultaneously implement the tariff cuts. This arrangement will help stabilize US-China trade, create better conditions for exports of related Chinese products to the US, satisfy domestic market demand, and strengthen bilateral trade cooperation in areas such as agricultural products, energy, manufactured goods and consumer products. Both sides agreed to establish an agricultural working group under the Trade Council to discuss issues including regulation and market access, address trade concerns, and expand practical cooperation in the agricultural sector. The agricultural working group plans to hold its first meeting before the end of 2026. China will continue to urge the US side to address China's concerns in the agricultural sector through working group meetings. ~ AASTOCKS Financial News Website: www.aastocks.com | |