Sep 29, 2026 · 3 min · 3 segments
$60 Billion in possibilities—$0 Billion in tariff cuts. USTR announced the formation of the US-China Board of Trade. Listen for more on Two Minutes In Trade.
For an administration that is hyper-focused on trade and protecting intellectual property, imagine my surprise when we woke up Monday morning to the USTR's version of 30 for 30.
If you don't know, ESPN has a sport documentary program called 30 for 30.
Anyway, USTR announced the framework for the new U.S.-China Board of Trade, an outline of which government officials would work on it, and that it would meet four times a year, all this following President Xi's White House visit last week.
These are lists of products recommended for reduced tariff treatment.
These lists specify $30 billion of products exported from China to the U.S. and another $30 billion products exported from the U.S. to China that, according to the White House statement, the two countries will consider with a view toward providing reduced tariff treatment to those goods in a reciprocal manner consistent with their respective domestic laws and processes.
That paragraph has a lot of hedging, even by trade negotiation standards.
The U.S. listed consumer manufactured products including certain home textiles, small home and personal care appliances, toys, outdoor recreation products, holiday decor, and child car seats.
China listed many agricultural products as well as medical devices and other products for no new tariffs.
These lists are not immediate tariff cuts, but if there's tariffs in the future, these products would not be subject.
This list is separate from Chinese agricultural product purchase pledges, for which no additional commitments were made during this trip.
And there's no indication how the U.S. would hold China to its previous agreement.
But hey, China did fulfill its commitment from April to deliver two giant pandas to the Atlanta Zoo, so that's something.
As we've covered previously, the U.S.-China trade truce was extended through January the 10th.
Section 301 port fees on Chinese-linked vessels that last year were suspended until November the 10th.
And there's no word on the Section 301 investigation on excess capacity.
We may see more, but at least we know there's a 30 for 30, a USTR version.
For an administration that is hyper-focused on trade and protecting intellectual property, imagine my surprise when we woke up Monday morning to the USTR's version of 30 for 30.
If you don't know, ESPN has a sport documentary program called 30 for 30.
Anyway, USTR announced the framework for the new U.S.-China Board of Trade, an outline of which government officials would work on it, and that it would meet four times a year, all this following President Xi's White House visit last week.
These are lists of products recommended for reduced tariff treatment.
These lists specify $30 billion of products exported from China to the U.S. and another $30 billion products exported from the U.S. to China that, according to the White House statement, the two countries will consider with a view toward providing reduced tariff treatment to those goods in a reciprocal manner consistent with their respective domestic laws and processes.
That paragraph has a lot of hedging, even by trade negotiation standards.
The U.S. listed consumer manufactured products including certain home textiles, small home and personal care appliances, toys, outdoor recreation products, holiday decor, and child car seats.
China listed many agricultural products as well as medical devices and other products for no new tariffs.
These lists are not immediate tariff cuts, but if there's tariffs in the future, these products would not be subject.
This list is separate from Chinese agricultural product purchase pledges, for which no additional commitments were made during this trip.
And there's no indication how the U.S. would hold China to its previous agreement.
But hey, China did fulfill its commitment from April to deliver two giant pandas to the Atlanta Zoo, so that's something.
As we've covered previously, the U.S.-China trade truce was extended through January the 10th.
Section 301 port fees on Chinese-linked vessels that last year were suspended until November the 10th.
And there's no word on the Section 301 investigation on excess capacity.
We may see more, but at least we know there's a 30 for 30, a USTR version.
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