US, China agree to reduce reciprocal tariffs on each other:No relief for India; 100% tariff still looms for Russian crude purchase

China and the US have agreed to reduce reciprocal tariffs that they levy on each other, the Chinese Ministry of Commerce (MOFCOM) said on Monday. The former will cut duties on $30 billion worth of US imports and the latter will also cut tariffs on an equivalent amount of Chinese imports. MOFCOM said tariffs on about 90% of the products on each side will be lowered to most-favoured-nation (MFN) rates. Both economic superpowers have agreed on 10 outcomes from their latest economic and trade talks. The economic and trade teams of the two sides held consultations in New York and Washington from September 20 to 23, ahead of the summit meeting between President Xi Jinping and his US counterpart Donald Trump. No relief for India: Significantly, Trump was silent about the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 that authorises him to impose sanctions on Russia and steep tariffs on its trading partners in oil and gas, including India and China. When will new tariff rates take effect between China US? The two sides agreed to jointly release their respective lists of products subject to the tariff reductions. The reductions will take effect simultaneously after both sides complete their respective domestic legal procedures, state-run Global Times reported, quoting MOFCOM. Chinese items that may become cheaper in US: Chinese items that may become cheaper due to tariff cut are toys, home appliances, baby products, kitchen and bathroom products. US agricultural product prices may fall in China China will reduce tariffs on about $30 billion worth of imports from the US, including agricultural products, personal care products, medical devices and coal, Chinese official media reported, citing MOFCOM. How much do the 2 titans trade mutually? The US-China trade amounted to about $414.7 billion in 2025, with Chinese exports amounting to over $308 billion and US exports totalling around $106.3 billion.