The Chinese Ministry of Commerce announced that in consultations with the USA, an agreement was reached on the establishment of a "Trade Board" in order to facilitate trade between the two countries. It was reported that the parties also agreed to mutual tariff reductions in goods trade worth 30 billion dollars.
COAL IMPORTS WERE INCLUDED IN THE TRADE AGREEMENT
In the statement made by the Chinese Ministry of Commerce, it was stated that as a result of the consultations carried out within the scope of the "Commercial Board", an agreement was reached on mutual tariff reductions in goods trade worth 30 billion dollars.
In this context, the statement stated that coal imports were also included in the scope of mutual tariff reduction, and it was noted that China will import coal from the USA in 2027 and 2028.
In the statement, it was also stated that the parties agreed to establish an "Investment Board" within the scope of the economic and trade consultation mechanism between the two countries. The board is planned to provide a corporate communication platform regarding potential investments and the obstacles to them.
COOPERATION IN AGRICULTURE AND FINANCIAL SERVICES
In the statement, it was stated that an agricultural working group would be formed within the scope of the "Board of Trade" and that negotiations would be held to provide mutual market access to the agricultural products of the two countries.
It was reported that the parties also agreed in principle on access to financial services. Accordingly, China will evaluate applications from financial service providers from different countries of the world, including those with US capital, to open branches and operate in China.
DIALOGUE STARTED ON ARTIFICIAL INTELLIGENCE
In the statement, it was stated that the delegations led by Chinese Deputy Prime Minister Hı Lifing and US Treasury Secretary Scott Bessent initiated a dialogue on artificial intelligence.
It was reported that the parties held the first discussion on the risks and benefits associated with artificial intelligence and agreed to hold the second round of the dialogue before the end of November.
It was also noted that an agreement was reached on establishing a communication channel for accidents related to artificial intelligence technology.
DURATION OF THE PROVISIONAL AGREEMENT HAS BEEN EXTENDED
In the statement, it was stated that the parties will continue to consult on economic and commercial problems, and it was stated that during the meetings in Malaysia, it was decided to extend the duration of the interim agreement, which was postponed until November 10 this year, to January 10, 2027.
It was noted that the two countries will try to reach a mutually acceptable agreement by this date.
US-CHINA TRADE TENSION
Relations between the USA and China were shaped by a series of disagreements that expanded during Trump's second term in power, due to the Washington administration's tariff increases and restrictions on technology, as well as the steps taken by China towards the control of rare earth elements, from which the majority of the global supply is met.
Delegations from the two countries met in Geneva, Switzerland, in May last year, in London, the capital of England, in June, in Stockholm, the capital of Sweden, in July, in Madrid, the capital of Spain, in September, in Kuala Lumpur, the capital of Malaysia, in October, in Paris, the capital of France, in March this year, and in Seoul, the capital of South Korea, in May, to conduct negotiations.
The parties, who suspended mutual tariff increases twice for 90-day periods during the negotiations, announced that they had agreed on a temporary agreement framework for the resolution of economic disputes at the end of the fifth round of negotiations in Malaysia.
HOW WAS THE TEMPORARY AGREEMENT CREATED?
With the positive messages given after the meeting between US President Donald Trump and Chinese President Xi Jinping in Busan, South Korea, on October 30, 2025, the parties reached a temporary compromise on the disputed issues.
During the meeting, the two countries announced that they agreed to postpone the 24 percent additional tariff they imposed on each other within the scope of "reciprocal tariffs" for one year, starting from November 10.
While the Chinese side has committed to taking the necessary steps to control the export of fentanyl and its precursors, the US side has stated that it will reduce the 20 percent additional customs tariff imposed on China to 10 percent due to the inadequacy of its measures in this field.
On September 29, the Washington administration postponed the entry into force of the rule for one year, which includes partnerships in which foreign companies have more than 50 percent shares in the entity list to which it applies export control. In return, the Chinese side agreed to postpone the implementation of the measures taken on October 9 regarding the control of the export of rare earth elements for one year.
As a result of the Article 301 investigation initiated by China against the maritime, logistics and shipping sectors, the USA postponed the decision on imposing additional port fees per ton on Chinese ships using its country's ports for one year, while China announced that it would postpone the measures it took in retaliation for one year.
