US-China eye tariff cuts on USD 30 billion before Trump-Xi summit — SkimNews
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- China and the US are working toward reciprocal tariff cuts on $30 billion of goods ahead of Trump's September 24 meeting with Xi Jinping in Washington.
- Commerce Ministry spokesperson Huang Ling said negotiators are striving to implement the reductions on equivalent amounts of "non-sensitive" goods "at an early date."
- Trump and Xi agreed at their May meeting in Beijing to launch a US-China Board of Trade and a parallel Board of Investment to manage bilateral commerce.
- Barclays warned the current tariff truce expires November 10 and that chances of a broader trade deal remain limited, making targeted cuts the more likely outcome.
- Chinese Foreign Ministry's Guo Jiakun said "Leaders' diplomacy plays an irreplaceable strategic guiding role in China-US relations."
Why it matters: Both sides are narrowing the trade fight to manageable slices — $30 billion in "non-sensitive" goods — rather than letting the truce expire November 10 with no replacement framework. With Barclays flagging limited odds of a broad deal, the newly created Board of Trade becomes the realistic vehicle for stabilizing flows between the world's two largest economies.
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