China, US pledge tariff cuts on $60 bil. of goods including agriculture, toys, toasters
BEIJING — China and the United States said they will pursue tariff cuts on $60 billion worth of goods imported from each other, including products from U.S. corn to cosmetics, and from Chinese toys to household appliances, with some notable omissions on each side. Under the U.S.-China Board of Trade, both countries have each recommended $30 billion of trade in non-sensitive goods for more…
Beijing - China and the United States have agreed to pursue tariff cuts on $60 billion worth of goods imported from each other, according to a statement released on Sunday night. The U.S. Trade Representative, Jamie Greer, revealed that both countries have proposed $30 billion in trade for improved tariff treatment. This deal would unlock better market access for approximately 30% of U.S. exports to China.
The agreement comes as part of the second summit between President Xi Jinping and U.S. President Donald Trump, which took place in Washington last week. The tariff reduction effort, along with the extension of a trade truce, were among the key outcomes of the summit. However, neither side provided details on the specific tariff reductions or the implementation timeline. The proposed $30 billion figure is based on 2024 import data.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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