China and the United States agreed to cut tariffs on $60 billion of goods imported from each other, with each side recommending $30 billion in non-sensitive trade for more favorable treatment. The deal covers products including US agricultural goods except soybeans and Chinese household items.
China and the United States agreed to reduce tariffs on $60 billion of goods imported from each other, including products ranging from US corn and dairy to Chinese small appliances and toys. Each country recommended $30 billion in non-sensitive trade for more favorable tariff treatment, US Trade Representative Jamieson Greer said.
China's commerce ministry said a two-month extension of the trade truce through January 10 would give both sides time to evaluate their arrangement and provide a relatively stable and predictable policy environment for companies. China’s planned tariff cuts include US agricultural goods such as corn, wheat, meat and vegetable oils, but exclude soybeans.
The countries also agreed that China would import 10 million metric tons of US coal annually in 2027 and 2028. They will establish an agriculture working group, continue discussions on investment opportunities and barriers, and hold a follow-up dialogue on artificial intelligence by the end of November.
