US, China Agree Tariff Cuts on $60 Billion Trade
China and the United States have agreed to cut tariffs on $60 billion worth of goods and extend their trade truce by two months, creating additional space for negotiations on broader economic and trade disputes.
US-China Tariff Cuts Cover $60 Billion in Goods
Under the agreement, each side identified around $30 billion worth of non-sensitive goods for more favourable tariff treatment.
China plans to reduce duties on a range of US agricultural products including corn, wheat, sorghum, meat, dairy products, vegetable oils and seafood. Soybeans were not included in the latest tariff-cut list.
The United States, meanwhile, will lower reciprocal tariffs on selected Chinese consumer goods including small household appliances, tableware, blankets, bed linen, toys and children’s car seats.
US-China Trade Truce Extended to January
The two countries also extended their trade truce until January 10, giving negotiators more time to assess existing arrangements and continue discussions on unresolved trade barriers.
China said the extension would provide a more stable and predictable environment for companies while allowing both sides to maintain regular talks on investment, market access and regulatory concerns.
The agreement followed the latest summit between US President Donald Trump and Chinese President Xi Jinping in Washington.
Agriculture, Coal and AI Talks Advance
China also agreed to import 10 million metric tons of US coal annually in 2027 and 2028, while both countries will establish an agricultural working group before the end of the year.
On artificial intelligence, Washington and Beijing agreed to maintain a communication channel for major AI incidents and hold another dialogue by the end of November.
