The deal includes a commitment from China to import at least 10 million metric tons of US coal in 2027 and 2028, using the tariff-cut framework to facilitate the trade. However, China excluded soybeans, its top US agricultural import, from the reduction list, while continuing to lower duties on corn, wheat, meat, and dairy. Other terms of the summit's eight-point consensus include a new communication channel for "super intelligence" AI incidents and a first meeting of a shared agriculture working group by the end of 2026.
Tuesday, October 20, 2026
Story
US and China Extend Trade Truce to 2027 With $60B Reciprocal Tariff Cuts
Geopolitics23 days ago
Washington and Beijing will create joint trade and investment councils to oversee new mutual reductions in import duties following a three-day state visit by President Xi Jinping. The US and China agreed to reciprocal tariff cuts on $30 billion of imports from each side, totaling $60 billion, with roughly 90% of covered goods moving to most-favoured nation rates. The agreement also extends the Kuala Lumpur joint arrangement, a trade truce that pauses various tariffs and non-tariff measures, until January 10, 2027.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.