China, US maintain close communication on tariff reduction arrangement
Published . Updated .
Key takeaways
- China and the United States are maintaining close communication on implementing a reciprocal tariff-reduction framework that would cover $30 billion worth of products from each side, China's Ministry of Commerce said on Thursday.
- Exposed: XLI, XRT, KWEB, SMH, FXI
- Market reaction: XRT −1.7% on the day; XLI −0.6% on the day; KWEB −3.4% on the day
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China and the United States are maintaining close communication on implementing a reciprocal tariff-reduction framework that would cover $30 billion worth of products from each side, China's Ministry of Commerce said on Thursday.
Directly affected
- No company is named in this report.
Indirectly affected
- XLI Industrial Select Sector SPDR-0.4% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- XRT SPDR S&P Retail ETF
SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- KWEB KraneShares CSI China Internet ETF-5.9% 30d
KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “china” (Chinese tech) in this story.
- SMH VanEck Semiconductor ETF-16.2% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “china” (semiconductors) in this story.
- FXI iShares China Large-Cap ETF-2.2% 30d
iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“china”).
- CAT Caterpillar-27.2% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- DE Deere+0.7% 30d
Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- NKE Nike+5.4% 30d
Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLI | -4.94% | -1.22% | base | -0.56% | after close | after close | after close |
| XRT | -1.37% | +0.47% | base | -1.72% | after close | after close | after close |
| KWEB | +4.50% | +2.66% | base | -3.36% | after close | after close | after close |
| SMH | -12.00% | -3.92% | base | -1.04% | after close | after close | after close |
| FXI | +2.96% | +2.17% | base | -1.30% | after close | after close | after close |
| CAT | -8.01% | -0.49% | base | +0.72% | after close | after close | after close |
| DE | -4.00% | -0.02% | base | -1.79% | after close | after close | after close |
| NKE | +3.21% | +4.04% | base | -1.59% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
China, US maintain close communication on tariff reduction arrangement CGTN
Source: CGTN
How far Select Sector Spdr Tr (XLI) has moved since 12 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Caterpillar (CAT) | that day | +0.72% | final price |
| Caterpillar (CAT) | three days earlier | -0.49% | final price |
| Caterpillar (CAT) | five days earlier | -8.01% | final price |
| Deere (DE) | that day | -1.79% | final price |
| Deere (DE) | three days earlier | -0.02% | final price |
| Deere (DE) | five days earlier | -4.00% | final price |
| Ishares China Large-Cap Etf (FXI) | that day | -1.30% | final price |
| Ishares China Large-Cap Etf (FXI) | three days earlier | +2.17% | final price |
| Ishares China Large-Cap Etf (FXI) | five days earlier | +2.96% | final price |
| Kraneshares Csi China Internet Etf (KWEB) | that day | -3.36% | final price |
| Kraneshares Csi China Internet Etf (KWEB) | three days earlier | +2.66% | final price |
| Kraneshares Csi China Internet Etf (KWEB) | five days earlier | +4.50% | final price |
| Nike (NKE) | that day | -1.59% | final price |
| Nike (NKE) | three days earlier | +4.04% | final price |
| Nike (NKE) | five days earlier | +3.21% | final price |
| Vaneck Etf Trust (SMH) | that day | -1.04% | final price |
| Vaneck Etf Trust (SMH) | three days earlier | -3.92% | final price |
| Vaneck Etf Trust (SMH) | five days earlier | -12.00% | final price |
| Select Sector Spdr Tr (XLI) | that day | -0.56% | final price |
| Select Sector Spdr Tr (XLI) | three days earlier | -1.22% | final price |
| Select Sector Spdr Tr (XLI) | five days earlier | -4.94% | final price |
| Spdr Series Trust (XRT) | that day | -1.72% | final price |
| Spdr Series Trust (XRT) | three days earlier | +0.47% | final price |
| Spdr Series Trust (XRT) | five days earlier | -1.37% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 45 days before publication. Filed 12 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Nike (NKE), worth $15,001 - $50,000 on 28 Aug 2026. That is 76 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Gilbert Cisneros sold Nike (NKE), worth $15,001 - $50,000 on 27 Aug 2026. That is 77 days before publication. Filed 10 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, sold Nike (NKE), worth $100,001 - $250,000 on 21 Aug 2026. That is 83 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Select Sector Spdr Tr (XLI)
Companies that tend to pay
- CAT Caterpillar
In “China, US maintain close communication on tariff reduction arrangement,” Caterpillar (CAT) tends to be hurt, medium confidence. Reason on file: Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- DE Deere
Deere (DE) tends to be hurt, medium confidence in the 12 Nov 2026 story “China, US maintain close communication on tariff reduction arrangement.” Reason on file: Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- NKE Nike
Nike (NKE) tends to be hurt, medium confidence in the 12 Nov 2026 story “China, US maintain close communication on tariff reduction arrangement.” Reason on file: Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
No up or down call on file
- XLI Select Sector Spdr Tr
For “China, US maintain close communication on tariff reduction arrangement,” Select Sector Spdr Tr (XLI) is linked, with no stored direction, medium confidence. Reason on file: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- XRT Spdr Series Trust
In “China, US maintain close communication on tariff reduction arrangement,” Spdr Series Trust (XRT) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- KWEB Kraneshares Csi China Internet Etf
Kraneshares Csi China Internet Etf (KWEB) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “China, US maintain close communication on tariff reduction arrangement.” Reason on file: KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “china” (Chinese tech) in this story
- SMH Vaneck Etf Trust
Vaneck Etf Trust (SMH) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “China, US maintain close communication on tariff reduction arrangement.” Reason on file: VanEck Semiconductor ETF: it holds chipmakers. Linked by “china” (semiconductors) in this story
Select Sector Spdr Tr (XLI)
The 12 Nov 2026 story “China, US maintain close communication on tariff reduction arrangement” names Select Sector Spdr Tr (XLI) because of this story.
What ties Select Sector Spdr Tr (XLI) to the headline is this: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
A second company, Spdr Series Trust (XRT), is listed for a different reason: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
Price levels for Select Sector Spdr Tr (XLI)
KWEB traded between 22.90 and 25.02 across 20 sessions. The latest close on file is 23.13. XLI traded between 163.00 and 172.33 across 20 sessions. The latest close on file is 169.73.
What the saved facts support for Select Sector Spdr Tr (XLI)
46 out of 100
“China, US maintain close communication on tariff reduction arrangement” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.