US and China unveil $30 billion in tariff cuts after Trump-Xi meeting
The cuts follow a meeting between the two leaders and come as a narrower trade deal is due to be detailed Monday
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UpdateMonday, September 28, 2026 at 3:05 PM ET
Trump described the meeting with Xi as "very respectful." He said he will meet the Chinese leader again in November in China, and again in December at the G20 summit in Miami.
The United States and China have unveiled $30 billion in tariff cuts following a meeting between President Trump and Chinese leader Xi Jinping. The move builds on tariff exemptions already announced for agricultural and medical goods.
Trump said the talks with Xi included a significant discussion on artificial intelligence. A narrower trade deal between the two countries is due to be detailed Monday.
The tariff cuts land against a softer patch in Chinese industry.
The reduction marks a shift away from the escalation that has weighed on stocks and pushed some investors toward safer assets in recent weeks. Coming amid stalled talks with Iran and other points of friction, it signals a willingness on both sides to negotiate and lowers near-term tariff risk, a backdrop markets are likely to treat as constructive after weeks dominated by trade tension.