EL7.AI
Macro EconomyMedium•11 November 2026•
1 min read

US and China Reach $60 Billion Mutual Favourable Tariff Consensus

Key Facts

1US Treasury Secretary Scott Bessent announced a consensus with China for favourable tariff treatment on $30 billion of non-sensitive goods in each direction.
2The agreement was reached under the newly established bilateral Board of Trade.
3The Board of Trade launched a working group specifically to address agricultural trade barriers.

US Treasury Secretary Scott Bessent announced that the United States and China have reached a consensus to provide favourable tariff treatment for $30 billion of non-sensitive goods in each direction. ANI News reported that the agreement, totalling $60 billion in trade volume, was secured under the newly established bilateral Board of Trade.

The Board of Trade has also launched a dedicated working group to address agricultural trade barriers between the two nations. This development follows data from November 10, 2026, which showed China's exports growing by 35.2% year-on-year, while its balance of trade recorded a surplus of $105.28 billion.

China is scheduled to release its Current Account data on November 13, 2026, an event that may offer further insight into the bilateral trade trajectory following this new tariff consensus.