U.S. and China agree to cut tariffs on $60 billion of goods after Xi's visit
Farm goods, seafood and medical devices get cheaper access to China; toys and holiday decorations get relief in the U.S. Soybeans were left out.
WASHINGTON — The United States and China have agreed to lower tariffs on a combined $60 billion of each other's goods, the first concrete trade step to come out of Chinese President Xi Jinping's state visit to Washington.
Under what officials are calling a "30-for-30" framework, each country will cut duties on about $30 billion of imports from the other.
What's on the list
On the American side, more than 1,600 product lines will face lower Chinese tariffs, including corn, wheat, frozen meat, seafood, cosmetics and medical devices. In return, the U.S. will reduce tariffs on Chinese-made toys, sports equipment, child car seats and holiday decorations — items that matter to shoppers heading into the holiday season.
U.S. Trade Representative Jamieson Greer said the administration would keep pushing for fair and reciprocal trade with Beijing while opening markets for American producers.
Who was left out
Soybeans, the biggest U.S. farm export to China before the trade war, were not included, a disappointment for growers who have lost sales for years. Farm groups said they would keep pressing for a broader deal.
The agreement followed a formal White House state dinner for Xi and comes as American consumers report rising worries about prices, with confidence at a 12-year low this month.
Sources
This article was written by Statevane from the reporting and official sources linked above. Spot an error? Tell us.