Trump Administration Initiates New U.S.-China Trade Framework

• •Trump and Xi reached a consensus on a new U.S.-China trade framework.
• •The U.S.-China Board of Trade will manage tariffs on over $30 billion in exports.
• •Businesses are preparing to provide feedback on product eligibility for tariff reductions.

On May 29, 2026, President Trump and President Xi Jinping agreed to establish the U.S.-China Board of Trade and the U.S.-China Board of Investment during Trump's visit to China. This agreement aims to enhance bilateral trade by managing tariffs on 'non-sensitive' goods, potentially affecting over $30 billion in exports from each country. Industry leaders are preparing to provide feedback on which products will benefit from tariff reductions. The discussions signal a shift in the U.S. administration's approach to trade with China, moving away from a push for fundamental economic overhaul. The White House has indicated that further details will be released soon, as businesses await clarity on the framework. The agreement is seen as a positive step for American workers and industries, with expectations of new market opportunities.