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…
China and the United States have agreed to pursue tariff cuts on $60 billion worth of goods imported from each other, a key development highlighted at their second summit of the year in Washington. The proposed reductions, as recommended by the U.S.-China Board of Trade, include a range of products from U.S. agriculture like corn to essential items such as cosmetics, toys, and household appliances from China.
U.S. Trade Representative Jamie Greer announced that this agreement aims to unlock improved market access for around 30 percent of U.S. exports to China.
However, neither China nor the U.S. disclosed the specifics of the tariff reductions or the timeline for their implementation. The valuation of $30 billion for each country's import product lists is based on 2024 import data. Both countries have committed to extending a current trade truce as part of their efforts to improve bilateral relations.
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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