After summit meeting: Relief of 30 billion dollars each: USA and China name details of the new tariff deal

Beijing - The United States and China have announced details of a plan to reduce tariffs on imports worth roughly 30 billion dollars each. This move aims to stabilize relations between the two rival superpowers following a summit between their leaders, Donald Trump and Xi Jinping. The list of goods entering the US includes 77 categories such as fireworks, household items, sports equipment, and toys.

Conversely, 1,619 items were listed for potential import into China, including meat, seafood, dairy products, grains, coal, wood, and medical equipment. The anticipated tariff cuts for bilateral trade valued at 60 billion dollars are part of the outcomes of Xi's recent visit to Washington. However, this figure represents only a fraction of the total trade between the world's two largest economies, which totaled 415 billion dollars last year.

Both sides extended their trade truce until January and are working on a broader agreement ahead of their anticipated meetings in 2020. While central issues like export controls and Taiwan remain unresolved, trade in non-sensitive goods is seen as one of the areas where agreements may still be possible.