China Signals Hope For Early US Deal As Both Sides Discuss Tariff Reductions

China said on Thursday that it hopes to reach an agreement with the United States on reducing tariffs “at an early date”, raising expectations that progress could be announced when US President Donald Trump and Chinese President Xi Jinping meet later this month. The two countries are negotiating reciprocal tariff reductions on billions of dollars worth of goods as they seek to ease trade tensions between the world's two largest economies.

Chinese Commerce Ministry spokesperson Huang Ling said negotiators were working to implement reciprocal tariff reductions covering $30 billion worth of goods. Speaking at a weekly briefing, Huang said the two sides hoped to achieve the reductions “at an early date”, without providing further details on the products involved or the exact timing. The remarks come as officials in Beijing and Washington continue discussions aimed at stabilising economic relations following a prolonged tariff dispute.

Trump and Xi are expected to meet in Washington on September 24, marking their third face-to-face meeting in the past year. The upcoming summit is being closely watched for signs of progress on trade and other areas of disagreement. Both governments have described high-level engagement between the two leaders as an important mechanism for managing competition and preventing relations from deteriorating further. Chinese Foreign Ministry spokesperson Guo Jiakun said on Thursday that leader-level diplomacy plays an important strategic role in China-US relations.

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At their previous meeting in Beijing in May, Trump and Xi agreed to establish a US-China Board of Trade to oversee trade relations between the two countries. They also agreed to create a parallel Board of Investment. The proposed trade mechanism is expected to provide a framework for addressing tariff issues and other commercial concerns. Discussions over reciprocal tariff reductions are a central part of negotiations surrounding the Board of Trade, with the objective of identifying and reducing tariffs on equivalent amounts of non-sensitive goods from each side.

The discussions follow a major escalation in the US-China tariff conflict, during which Trump imposed sharply higher tariffs on Chinese imports and Beijing responded with retaliatory measures. The two countries subsequently reached a tariff truce to prevent further escalation and create room for negotiations. However, that arrangement is due to expire on November 10, putting additional pressure on negotiators to reach at least a partial understanding before the deadline.

Trade is expected to feature prominently during the Trump-Xi meeting, with financial analysts cautioning that a comprehensive agreement may remain difficult to achieve in the near term. Barclays Bank said in a research note that trade would be “front and center” at the summit, while noting that the limited scope for a broad deal made targeted tariff reductions more likely. The latest comments from Beijing indicate that both sides are seeking progress on selected tariff reductions, although the details and final scope of any agreement remain to be worked out.

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