Major Breakthrough in US-China Trade: $30 Billion Reciprocal Tariff Cut Framework Finalized, Over 90% of Goods Exempt from Additional Duties

On September 28, the US and China reached a key agreement under a trade council framework to implement reciprocal tariff cuts on approximately $30 billion worth of imports each. Over 90% of covered goods will be exempt from all additional duties, reverting to Most-Favored-Nation rates. This move aims to stabilize bilateral trade and enhance cooperation in sectors like agriculture and consumer goods.

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