U.S., China Agree on Tariff Relief for $30 Billion in Goods

The United States and China agreed to more favorable tariff treatment for nonsensitive goods traded in each direction, U.S. Trade Representative Jamieson Greer said Friday on CNBC's Squawk Box. Categories include U.S. agricultural products and medical devices and Chinese consumer goods. Specific products, tariff changes and an implementation date remain unspecified, with fuller details expected Monday. Talks proceed through a bilateral Board of Trade focused on pure trade issues. National security export controls stay off the table. "All those export controls that are national security issues, we take those off the table," Greer said. The sides extended their broader tariff truce two months as a compliance period to assess China's U.S. farm purchases and rare earths access. Greer said the U.S. goods deficit with China has dropped nearly 40 percent, with some trade shifting to Mexico, where U.S. purchases hit an all-time high of $60.6 billion in July. Trump and Xi met at the White House on Sept. 24 and shook hands. Trump called the meeting "very productive" on Truth Social and said Xi appeared receptive to "SUPER INTELLIGENCE." Chinese state media quoted Xi saying the two sides can continue AI dialogue and together guard against the misuse or malicious use of AI.