US-China Tariff Cuts: $30 Billion Trade Relief Plan Unveiled; Check Full List 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.
48 Articles
48 Articles
The mutual reduction of tariffs and the extension of the trade war pause were key results of the meeting between the two presidents.
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...
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