U.S. and Chinese officials held the first formal meeting of their new Board of Trade on Friday, Nov. 13, discussing tariffs and farm trade. The meeting took place by video. China’s Commerce Ministry readout, issued Saturday in Beijing, said the officials discussed how to carry out earlier trade commitments, including a plan to consider lower tariffs on about $30 billion worth of goods from each country.
The Office of the U.S. Trade Representative confirmed that it and the Treasury Department took part, Reuters reported. The Chinese readout named no new rate, effective date or agreement reached Friday. The two governments agreed to establish the board in May to handle trade in goods they consider non-sensitive.
What the $30 billion covers
The September terms published by the White House say the two countries’ principals approved separate lists of goods, one for U.S. exports to China and one for Chinese exports to the United States. Officials used the annual value of those goods traded in 2024 to work out the roughly $30 billion on each side. That number measures the trade the lists were designed to cover. The terms leave tariff reductions to each country’s own legal process.
In September, U.S. Trade Representative Jamieson Greer named agricultural products and medical devices as examples of potential U.S. exports that could get better access to China. He also cited household goods and toys among imports that could qualify for more favorable treatment in the United States. Friday’s readout does not identify individual products or say which of those categories would see a reduction.
The notice mentions farm trade separately from the tariff framework and gives no new purchase volumes or delivery dates. A farmer or exporter looking for the effect on a particular shipment would still need a product-specific tariff notice or purchase announcement.
Which rates still apply
U.S. importers can check the current U.S. tariff schedule by tariff classification. The U.S. International Trade Commission’s revision archive lists an update on Nov. 10, before the board met. The Friday meeting itself supplies no new rate to use when pricing an order or preparing customs paperwork.
Under the board’s published procedures, deputies can raise changes to the lists and recommend action to senior officials. China’s ministry said the two sides would keep using the board to discuss unresolved trade issues.
