US and China publish their $30B reciprocal tariff-cut lists — over 90% of covered goods return to MFN rates

China's Ministry of Commerce announced on Sept 28 the outcomes of the eighth round of US-China trade talks: both sides agreed to reciprocally cut tariffs on roughly $30 billion of each other's imports, with over 90% of covered products exempted from all additional tariffs and restored to MFN rates. The US list covers toys, appliances, baby products, kitchenware and holiday gifts; China's covers agricultural goods, personal care products, medical devices and coal. The Kuala Lumpur arrangement, due to expire Nov 10, 2026, is extended to Jan 10, 2027, and a Board of Trade and Board of Investment are established.

For Western SMEs, the lists read like a procurement-cost map: supply-chain costs into the US for toys, holiday goods and small appliances should ease once both sides complete domestic procedures. Two cautions: cuts apply line-by-line at the 8-digit HS level, so verify your exact tariff lines before shipping; and the extension runs only to January 2027 — track what follows.