US, China Cut Tariffs on $30 Billion in Goods After Trump-Xi Meeting

The United States and China unveiled reciprocal tariff-cut lists Monday covering roughly $30 billion in bilateral trade. The move follows Chinese President Xi Jinping's state visit to Washington last week, his first since 2015, where he met with President Donald Trump.

China's commerce ministry said the agreement covers 1,619 US product lines entering China, including agricultural commodities, personal care items, timber, medical equipment, and coal. For Chinese exports to the US, 77 categories such as fireworks, tableware, glass and wooden Christmas ornaments, and soccer balls are included.

“This is a positive outcome for these affected products compared to a smaller tariff cut, and could lead to”

Tariff rates on over 90 percent of the listed products will drop to most-favored-nation levels, effectively eliminating country-specific tariffs. US Trade Representative Jamieson Greer said the lists target non-sensitive goods that benefit from favorable treatment, helping US farmers and manufacturers while lowering costs for American consumers on household goods and toys.

Both sides agreed the lists may be adjusted as needed, likely no more than annually. The countries also formed a working group under the Board of Trade established in May to deepen agricultural cooperation.

Strategic sectors including semiconductors, electric vehicles, and batteries were excluded from the agreement.