According to the Ministry of Commerce website, from September 20th to 23rd, Chinese and American economic and trade teams held economic and trade consultations in New York and Washington, D.C. Positive consensus was reached, contributing to the economic and trade field’s achievements for the meeting between the two heads of state. The person in charge of the Department of U.S. and Major Countries Affairs of the Ministry of Commerce provided an interpretation of the outcomes of the economic and trade consultations.
I. Regarding the Trade Council
After consultations, China and the United States agreed to establish a Sino-US Trade Council under the framework of Sino-US economic and trade consultations. The main task of the council is to optimize bilateral trade. Both parties’ economic and trade teams have reached a consensus on the tasks, structure, responsibilities, and consultation arrangements of the council, which will be announced later. Under the framework of the Trade Council, a working group on agriculture will be established, and other arrangements for optimizing bilateral trade will also be considered. It is believed that the Trade Council will provide an important platform and mechanism to continuously expand the list of cooperation and reduce issues between China and the United States in the economic and trade field, promoting the continuous and stable development of Sino-US economic and trade relations.
II. Regarding the “300 billion to 300 billion” equivalent tax reduction arrangement
To implement the important consensus reached during the meeting between the two heads of state, China and the United States have held multiple rounds of consultations under the framework of the Trade Council, based on mutual respect and equal negotiation. They have now reached an agreement. Both sides agree to reduce tariffs on about 30 billion US dollars worth of products imported from each other in a reciprocal manner. Approximately 90% of these products will have their tariffs reduced to the most favorable tariff rates. Both sides will implement the tariff reduction arrangements simultaneously after fulfilling the relevant procedures in accordance with their respective domestic laws. More details regarding this reciprocal tariff reduction arrangement will be announced later. This arrangement will help to maintain stability in China-US economic and trade relations and create favorable conditions for the export of our related products to the United States.
III. Regarding the expansion of coal trade
The economic and trade teams of China and the United States have reached a consensus. The tariffs on Chinese imports of coal from the United States will be included in the '30 billion for 30 billion' reciprocal tariff reduction framework. This will be beneficial to China's annual imports of coal from the United States in 2027 and 2028. Importing American coal is not only a useful supplement to China's domestic coal market but also brings stable economic income and employment to the American coal industry, which is conducive to stabilizing and expanding bilateral trade between China and the United States. It is hoped that through joint efforts from both sides, cooperation in the coal sector between China and the United States will continue to deepen, achieving mutual benefit and win-win results.
IV. Regarding the China-US Investment Council
After negotiations, China and the United States agreed to establish a Sino-US Investment Council under the Sino-US Economic and Trade Consultation Mechanism. The council will provide a structured platform for communication between the two sides. Both parties's economic and trade teams will engage in regular dialogue regarding potential investment opportunities and barriers to investment. Under the premise of complying with the laws and regulatory requirements of both countries, efforts will be made to increase policy transparency and predictability, and to address the legitimate concerns of enterprises.
Fifth, Regarding the Agricultural Work Group
In May this year, the economic and trade teams from China and the United States reached a series of positive agreements on addressing certain non-tariff barriers and market access issues related to agricultural products. They also agreed in principle to include relevant products within the “30 billion for 30 billion” framework for reciprocal tax reductions. Subsequently, the economic and trade teams conducted professional and practical negotiations on agricultural issues. In this context, both sides agreed to establish an agricultural working group under the China-U.S. Trade Council, led jointly by the Chinese Ministry of Commerce and the United States Office of Trade Representative, with participation from relevant regulatory agencies of both countries. The working group will discuss issues related to the two-way market access and regulation of agricultural products. Both sides agreed to hold the first meeting of the working group by the end of 2026. The Chinese side will continue to promote the US side to address China’s concerns in the agricultural sector through this working group.
VI. Regarding Financial Services
In recent years, China has independently expanded the opening of financial services, which has been recognized by the international community. Many American financial institutions have also benefited from this. The two sides have reached a principle consensus in the field of financial services. China will approve applications from financial service institutions from various countries, including those from the United States, according to laws and regulations. China hopes that the United States will also provide fair, transparent, and stable policies for Chinese financial institutions.
VII. Regarding the Sino-US Artificial Intelligence Dialogue
In this round of negotiations, both parties agreed that under the Sino-US economic and trade consultation mechanism, Vice Premier He Lifeng and Finance Minister Beasen will establish a dialogue on artificial intelligence as the respective leaders of China and the United States. They held their first dialogue, discussing the risks and benefits related to artificial intelligence. Both parties agreed to hold the next dialogue by the end of November this year. Both parties also agreed to establish communication channels regarding artificial intelligence-related issues.
VIII. Regarding the extension of the joint arrangements for economic and trade consultations in Kuala Lumpur
In October 2025, the Chinese and American sides reached a joint arrangement in Kuala Lumpur to resolve their respective economic and trade concerns. As part of this arrangement, certain tariffs and non-tariff measures will be suspended until November 10, 2026. During this economic and trade consultation, the Chinese and American sides agreed to extend the joint arrangement for economic and trade consultations in Kuala Lumpur until January 10, 2027, and to continue to actively discuss this matter, with the aim of reaching a mutually agreeable solution. This arrangement provides both sides with the opportunity to review and assess the implementation of the joint arrangement and to consider how to further develop Sino-American economic and trade relations. Additionally, by extending the arrangement for a certain period and continuing to engage in active discussions, it creates a relatively stable and predictable policy environment for business cooperation between both sides. It is believed that both sides will continue to work hard to find positive solutions for further extending this arrangement through high-level economic and trade interactions before the end of the year.
IX. Regarding the increase of direct flights between China and the United States
Between the two countries, passenger flights play an important role in promoting personnel exchanges, cultural exchanges, and economic and trade cooperation between them. During this consultation, China and the US exchanged views on increasing direct passenger flights. Both sides agreed to continue communicating regarding the increase of US-China flights and related matters.
Ten. Regarding implementation of past consensus on consultations.
Since last year, the two sides have held eight rounds of economic and trade consultations. Around important economic and trade issues such as promoting bilateral trade and investment, a series of mutually beneficial, balanced, and positive economic and trade results were reached, maintaining the overall stability of the economic and trade relations between the two countries. During this consultation, China and the United States reaffirmed and reiterated their commitment to continue implementing the consensus reached in previous economic and trade consultations. This will create favorable conditions and a stable environment for bilateral economic and trade cooperation, and is also of great significance for promoting global economic development.
