Pre-Summit Gift? US and China Aim to Launch New Mechanism in September Targeting Tariff Cuts on $30 Billion in Goods

According to foreign media reports on Wednesday (22nd), U.S. Secretary of State Marco Rubio stated that the U.S. and China are advancing efforts to establish a Trade and Investment Committee, aiming to achieve concrete progress before Chinese President Xi Jinping's anticipated visit to the United States in September—injecting new momentum into the ongoing improvement of relations between the world's two largest economies.

Rubio, who met with Chinese Foreign Minister Wang Yi in Manila on Wednesday, told reporters afterward that both sides are moving forward toward implementing the mechanism, which could become one of the tangible outcomes completed before Xi’s September visit to the U.S.

The U.S. and China agreed to establish the Trade and Investment Committee during President Trump’s visit to Beijing in May. Prior to that, Trump had significantly raised tariffs on Chinese goods, and Beijing responded by restricting exports of key rare earth products, causing bilateral tensions. After Trump’s visit to China, relations have gradually stabilized.

Earlier this month, President Trump indicated that he expects Xi Jinping to visit the U.S. around September 24, coinciding with the United Nations General Assembly in New York. Rubio added that he anticipates Xi’s trip to Washington will be a 'very positive visit.'

U.S. officials, including Treasury Secretary Bessent, have indicated that the U.S.-China Trade Committee aims to reduce tariffs on at least $30 billion worth of 'non-sensitive goods.' If the mechanism is formally launched before Xi’s visit, it could lay the foundation for further tariff reductions and expanded investment exchanges between the two nations.

Rubio also noted that he did not raise Trump’s recent allegations regarding the 2020 U.S. presidential election during his talks with Wang Yi. Trump has previously claimed, without evidence, that Beijing illegally accessed U.S. election data, though he has downplayed the likelihood of retaliatory actions by the U.S.