USCBC Applauds Trump-Xi Summit and Trade Truce Extension

Washington, DC — September 28 — The US-China Business Council (USCBC) applauds the outcomes of the summit between President Trump and President Xi last week and today’s Board of Trade announcements. We commend both governments for extending the trade truce and agreeing to lower tariffs on $30 billion of products each — a move that will benefit workers, businesses, and consumers in both countries.

“The summit demonstrated that the two leaders can manage the complex challenges the bilateral relationship faces and negotiate outcomes that are good for both countries. As negotiations continue and they consider a larger deal, we encourage both sides to be ambitious,” said Sean Stein, USCBC president.

“The statutory piece of the truce — suspending the US Affiliates Rule, the supplemental tariffs on goods arriving on Chinese ships, and China’s extraterritorial rare earth restrictions — is make-or-break for many critical American supply chains. While there has been progress in the availability of some rare earths, others still need attention.

“The Board of Trade’s formal, routine structure is a real opportunity to expand tariff reductions and tackle the market access issues impeding American companies in China, including non-tariff barriers and government procurement rules,” Stein said.

“The commitment to meet twice more this year is particularly important — it ensures the dialogue doesn’t flatline, which is critical if both countries are serious about strategic stability,” he said. “There’s absolutely a bigger, more ambitious deal to be had, and USCBC looks forward to helping both governments build on last week’s progress.”

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