U.S. and China unveil reciprocal tariff cuts on $60 billion in goods
publishers 79articles 90first reported 26 Sep, 18:30 UTCdeveloping since 27 Sep · 5 editionstop 25 #8
The United States and China have each identified about $30 billion in goods for lower tariffs, following a meeting between President Donald Trump and Chinese President Xi Jinping in Washington last week.
The U.S. list covers 77 categories of Chinese products, including bed linen, garden umbrellas, toasters, flashlights, fireworks, fishhooks and sports equipment. China’s list spans 1,619 types of U.S. goods, including butter, lobster, foie gras, coal, scientific equipment and animals for breeding. China’s commerce ministry said more than 90% of the listed products would be subject to most-favored-nation tariff rates, according to state media.
U.S. Trade Representative Jamieson Greer said the two countries had recommended non-sensitive trade that could receive more favorable treatment. He said the Chinese list represented improved market access for about 30% of U.S. exports to China.
The lists exclude major strategic products such as semiconductors, batteries and electric vehicles. Whole U.S. soybeans, which still face an additional 10% Chinese tariff, were also omitted, Reuters reported. No timetable for implementing the reductions has been announced.
The agreement follows the leaders’ decision to extend a broader trade truce by two months. Zhu Tian of the China Europe International Business School described the tariff reductions as a positive step but not a major breakthrough because they cover a relatively small portion of bilateral trade and leave tariffs on strategic goods unchanged.
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Written from 8 articles, 2 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 36 h after the record first saw the story; the editor kept it as written.
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