US and China Reach $30 Billion Trade Settlement

September 27, 2026 · AA Tarım & Ekonomi

The US and China have reached a $30 billion customs settlement under the newly operational Trade and Investment Framework Agreement (TIFA) Council, aimed at facilitating market access for agricultural products and non-sensitive goods.

Critical trade decisions were made between the US and China following Chinese President Xi Jinping's visit to the US from September 23-25. According to information shared by the White House, the US-China Trade and Investment Council mechanisms, whose foundations were previously laid, have been officially launched. Within the scope of the Council, a consensus was reached to recommend more favorable tariff applications for a total of $30 billion in non-sensitive goods in both directions.

The agricultural sector was among the priority topics in the agreement between the two countries. The Trade Council has established a special working group that will focus on removing market access barriers in the agricultural sector. Within the framework of the agreement, customs facilitations are planned for agricultural products, fish and seafood, as well as timber and wood products that the US will export to China, while small home appliances and consumer goods will be imported from China.

The reached consensus was not limited to agricultural products but also covered energy and raw material supply. According to White House data, China will import at least 10 million metric tons of coal annually from the US in 2027 and 2028. Furthermore, the parties will continue their joint efforts to address disruptions in the supply chains of rare earth elements and critical minerals and to bring shipment levels to a sustainable level.

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