US, China Agree on $60 Billion in Tariff Cuts on Goods
Both sides released lists of 1,619 U.S. exports and Chinese consumer goods that will receive lower tariffs.
- On Monday, The United States and China released reciprocal lists of non-sensitive products worth about $30 billion each, totaling $60 billion in tariff reductions on goods imported from each other.
- Beijing selected these items to help meet a $17 billion commitment to purchase agricultural goods, including fish, wood products, cosmetics, and medical devices, according to the Chinese list.
- The White House released a list of 1,619 exports from The United States affected by the reductions, while reciprocal plans for Chinese consumer goods include small appliances, tableware, and bed linens.
- According to Natixis economist Gary, lowering tariffs on consumer goods could help manage inflation while allowing Chinese firms to export more of their excess production capacity.
- Both nations will establish an agriculture working group under a trade council to discuss two-way market access and regulation, facilitating future trade management.
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13 Articles
Commentary: A $30 Billion Opening Beneath a Still-High U.S. Tariff Wall
Commentary: A $30 Billion Opening Beneath a Still-High U.S. Tariff Wall - Despite the headline-grabbing reciprocal tariff reductions, the fundamental architecture of the U.S. high-tariff wall against Chinese goods remains solidly intact
Fox 10 Phoenix
US, China agree on $60 billion in tariff cuts on goods
The United States and China have detailed a targeted tariff relief plan covering billions in non-sensitive goods, slashing taxes on products ranging from U.S. farm commodities and medical devices to Chinese consumer items.
What products are part of US-China $60B tariff cuts deal
The U.S. and Chinese governments unveiled tariff cuts on Monday, affecting $60 billion worth of goods in varying markets. The list released by the White House spans the U.S. importation of 77 categories of Chinese goods — including Christmas decorations, fireworks and children’s toys. Chinese imports of U.S. goods, meanwhile, cover 1,619 categories of products...
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