US and China agree reciprocal tariff cuts on $30 billion of goods
The United States and China released details of a previously agreed tariff arrangement covering roughly $30 billion of imports from each country, with about 90% of the covered products expected to face most-favored-nation (MFN) rates. The U.S. list covers more than 1,600 Chinese products such as household goods, small electrical appliances, toys and seasonal decorations, while China plans cuts on 77 U.S. categories including beef, dairy, grains and seafood. The sides will implement reductions simultaneously after completing domestic procedures and established councils and working groups on trade, investment, agriculture and artificial intelligence.
About $30 billion of bilateral goods will receive reduced tariffs.
Context
Chinese and U.S. teams held economic and trade talks in New York and Washington from Sept. 20-23. The talks produced a tariff arrangement and several new councils and working groups. The next steps are domestic procedures and scheduled…
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