U.S., China Roll Back $30 Billion in Tariffs as Trump-Xi Extend Truce 2 Months
Updated
Updated · CNBC · Sep 28
U.S., China Roll Back $30 Billion in Tariffs as Trump-Xi Extend Truce 2 Months
3 articles · Updated · CNBC · Sep 28
Summary
$30 billion in tariff cuts took effect Monday after last week's Trump-Xi summit, lowering U.S. duties on items like curtains and Christmas lights and Chinese duties on U.S. beef, soymeal and ice cream.
The broader summit produced few breakthroughs beyond extending the trade truce for two months, preserving lower tariffs and rare-earth flows while both sides agreed to keep talking.
Beijing and Washington appeared to aim the outcome largely at domestic audiences, with analysts saying both leaders want to signal stability and manageable competition ahead of packed political calendars.
Technology remains the hardest unresolved front, though China has reportedly signaled some firms such as ByteDance and Alibaba could buy Nvidia's higher-end professional chips and both countries plan AI talks in coming weeks.
The readouts also showed limited overlap beyond trade, including language on curbing Iran's nuclear capabilities and keeping international waterways open, underscoring how stability in U.S.-China ties shapes wider global commerce.