China, US Agree Tariff Cuts on $60 Billion of Goods
- On Monday, the US and China detailed a plan to cut tariffs on about $30 billion of imports from each country, following a summit between President Donald Trump and Chinese President Xi Jinping.
- Xi's state visit to Washington last week yielded $60 billion in bilateral trade relief, though this represents a fraction of the $415 billion in total goods exchanged between the nations in 2025.
- About 90% of covered products will see tariffs reduced to most-favoured-nation rates; the US list includes 77 entries like fireworks and toys, while China listed 1,619 goods including meat, seafood, dairy, and coal.
- Shares of Chinese appliance makers Joyoung and Bear Electric Appliance rose 10% and 9.5% respectively after the announcement; the nations also established an Agricultural Working Group to hold its first meeting by year-end.
- Negotiations continue despite unresolved disputes over export controls and Taiwan; officials aim to support progress toward a $17 billion annual goal for US agricultural products by 2028, with two more meetings between Trump and Xi scheduled for 2026.
43 Articles
43 Articles
The White House published this Sunday a list of products that can benefit from tariff reductions under an agreement of US$30 billion (about R$155.5 billion) with China, without specifying the rates or schedule. Washington and Beijing signed a fragile trade truce in October 2025, after a tariff escalation initiated by Donald Trump, which China responded with its own rates. This suspension was extended until January 10.
(Beijing=Yonhap News) Correspondent Han Jong-gu = As a follow-up measure to the economic and trade agreement ratified at the U.S.-China summit, China [is] [offering] $30 billion (approximately 40.8 trillion won) each to...
About 90% of products covered would see tariffs fall to most-favored-nation rates under the framework
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- 52% of the sources lean Right
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