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The United States and China agreed on recommendations for more favorable tariff treatment covering $30 billion of non-sensitive goods in each direction, while also expanding formal trade mechanisms. The arrangement covers selected U.S. agricultural and industrial exports and Chinese consumer products, with both governments establishing additional channels for trade discussions. Key Takeaways The U.S. and China reached recommendations for favorable tariff treatment covering $30 billion of non-sensitive goods in each direction. U.S. products covered include agricultural goods, fish and seafood, wood products, cosmetics and medical devices. Chinese products covered by the U.S. list include small appliances, toys, holiday decorations and children’s car seats. The U.S.-China Board of Trade launched a working group focused on agricultural market-access barriers. The two governments are using the Board of Trade to manage trade in non-sensitive products between the two economies. U.S.-China Tariff Cuts Cover About $30 Billion in Goods The United States and China reached recommendations on September 27 for more favorable tariff treatment covering $30 billion of non-sensitive goods on each side. The announcement followed Chinese President Xi Jinping’s visit to Washington and the latest work of the U.S.-China Board of Trade. The arrangement is structured around goods that the two governments have
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U.S. Current-Account Deficit Widens 15.7% to $246 Billion
The U.S. current-account deficit widened to $246.0 billion in the second quarter of 2026, up 15.7% from a revised first-quarter level as goods imports rose faster than exports. The latest federal data show where the gap expanded, how revisions changed the comparison and how the measure differs from other widely followed U.S. deficits. Key Takeaways The U.S. current-account deficit reached $246.0 billion in Q2 2026, up 15.7% from the revised first-quarter level The deficit increased by $33.4 billion and represented 3.0% of current-dollar GDP Goods imports rose by $67.4 billion to $931.6 billion, while goods exports increased by $27.1 billion to $640.3 billion The goods deficit widened by $40.4 billion to $291.3 billion The $246.0 billion headline figure came in below the $255.0 billion forecast from economists The Bureau of Economic Analysis reported on September 24 that the deficit increased by $33.4 billion from a revised $212.6 billion in the first quarter. The second-quarter gap represented 3.0% of current-dollar gross domestic product, up from 2.7% in the January-to-March period. The increase was centered on goods trade. Imports of goods rose substantially more than exports, while changes in primary and secondary income offset part of the wider goods deficit. Goods Imports
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U.S. Jobless Claims Fall to 197,000 in Latest Report
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