On May 29, 2026, the foreign trade market showed a complex and changeable situation, with both benefits and pressures coexisting.
The following are today’s core highlights and details of foreign trade.
Domestic and foreign trade dynamics
1.
The Ministry of Commerce explains in detail the progress of Sino-US tariffs: reciprocal tax reductions of US$30 billion are steadily advancing
The Ministry of Commerce authoritatively responded to the latest progress in Sino-US economic and trade consultations at a press conference today, confirming that the two sides have finalized core arrangements for reciprocal tax reductions of US$30 billion and above under the framework of the Trade Council.
At present, the economic and trade teams of the two countries maintain high-frequency and close communication and are refining the specific tax reduction items, implementation rhythm and implementation details.
The Ministry of Commerce has made it clear that tariffs are the core sticking point of China-U.S. economic and trade. It hopes that the U.S. will abide by its consensus, implement its commitments, and create a stable environment for the pickup of bilateral trade. Mainstream export categories such as mechanical and electrical appliances, light industry, home furnishings, and agricultural products will benefit first.
2. Data released by the Council for the Promotion of International Trade: Global economic and trade frictions continue to remain at a high level
The China Council for the Promotion of International Trade today released the global economic and trade friction index for March 2026. The current index reached 104 points and continues to be in a high operating range.
Data show that the current main sources of global trade barriers are the United States, the European Union, and India, and trade protection measures are concentrated in four major areas: tariff increases, import restrictions, technical barriers, and anti-dumping and countervailing investigations.
Foreign trade companies need to conduct compliance risk control on a regular basis, diversify market layout, and avoid the impact of trade barriers in a single market.
3. World Cup materials are cleared through customs efficiently, and the brand potential of domestic products overseas continues to be released
The 2026 World Cup in the United States, Canada and Mexico is about to begin, and all 3,922 domestic event support materials have been cleared and released efficiently.
Among the 16 top global sponsors of this World Cup, Chinese companies occupy 4 seats, demonstrating the global competitiveness of Chinese manufacturing and Chinese brands.
Domestic products such as event supporting materials, peripheral products, and smart equipment are shipped overseas in batches, continuing to drive domestic high-quality products to seize the global consumer market.
4. Customs compliance supervision is normalized, and the verification of low-price declarations continues to increase
Major customs across the country continue to tighten supervision, continue to strengthen substantive review of export declarations, and focus on strictly investigating violations such as under-declared prices, false declarations of product names, document inconsistencies, and paid exports.
Recently, the frequency of audits and inspections at major ports in East and South China has increased significantly, and companies that violate regulations are subject to credit downgrades, fines, and withdrawal of shipments, forcing foreign trade companies to standardize customs declaration procedures and build a solid bottom line for compliant exports.
International foreign trade dynamics
1.
The EU’s tax-free policy for small parcels has been officially cancelled, and the cost of cross-border direct mail has increased significantly
The EU has officially finalized new regulations. From July 1, it will cancel the tax-free policy for cross-border small parcels under 150 euros and enter an era of comprehensive taxation.
During the transition period from July 2026 to June 2028, all inbound small packages will be levied a fixed tariff of 3 euros; starting from November this year, a customs clearance fee of 2 euros will be added. It is comprehensively estimated that the overall cost of cross-border direct mail will increase by 20% – 30%.
At the same time, cross-border platforms such as SHEIN, TEMU, and AliExpress will be recognized as importers and assume the main compliance responsibilities. European cross-border e-commerce and small-piece retail foreign trade models will face dual adjustment pressures in cost and compliance.
2. The United States and Iran reached a 60-day ceasefire framework, and shipping risks in the Middle East were significantly alleviated
The United States and Iran negotiated and formally reached a 60-day ceasefire memorandum of understanding. The two sides suspended confrontational sanctions and military countermeasures, and simultaneously restarted negotiations on nuclear issues.
The previous tense situation of stagnant shipping and large-scale diversion of merchant ships in the Strait of Hormuz has been fully alleviated. International oil prices have fallen sharply, and the stability of energy, chemical industry, and cross-border shipping supply chains has rebounded, which has greatly benefited domestic energy trade and export companies on Middle East routes.
3. USMCA restarts negotiations, aluminum and steel tariffs disrupt North American trade supply chain
The United States, Canada, and Mexico officially launched a new round of negotiations on the United States-Canada-Mexico Agreement (USMCA), focusing on disputes over tariffs on core categories such as aluminum, steel, and automobiles.
At present, the United States maintains a high tariff of 50% on aluminum-Canadian steel products, and Canada has simultaneously imposed retaliatory tariffs on American automobiles and more than 100 categories of goods. Trade barriers in metals and auto parts in North America have intensified. Relevant foreign trade companies need to be alert to the risks of orders, tariffs, and cost fluctuations in the North American market.
4. The EU plans to introduce a new policy for industrial protection, and China is paying close attention to trade protection trends
The EU plans to launch a new round of special measures for “European industrial protection”, or to tighten import access in a targeted manner and raise the compliance threshold for foreign investment and imported products.
China has made it clear that the essence of China-EU economic and trade is mutual benefit and win-win. Unilateral trade protectionism will only harm the interests of industries and consumers on both sides. China will continue to closely follow the trends of the new policy and reserves the right to take all necessary measures to safeguard the legitimate rights and interests of domestic enterprises.
Today’s foreign trade summary and business tips
Today’s foreign trade market has both good news and pressure. The reciprocal tax cuts between China and the United States are steadily advancing, and geopolitical risks in the Middle East have been mitigated, providing support for the steady growth of foreign trade. However, global economic and trade frictions are running at a high level, the EU small package tax exemption is cancelled, the tariff game in North America is escalating, and the EU’s new industrial protection policy is brewing. Multiple barriers continue to suppress foreign trade profit margins.
It is recommended that foreign trade companies adjust their cross-border small package quotations and logistics plans for Europe in advance, seize the opportunity to place orders during the window period of Sino-US tax reduction policies; strictly standardize export compliance processes; diversify their market layout, rely on the blue ocean markets in Africa and Southeast Asia to hedge European and American trade risks, and steadily control the pace and profits of peak season shipments.
