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China, U.S. agree tariff cuts on $60B of goods as trade truce extends to Jan. 10
China and the U.S. agreed to reciprocal tariff cuts on $60 billion of goods — U.S. farm exports and Chinese consumer goods — while extending their trade truce to January 10.
Why it matters
This is the most concrete deliverable yet from the Xi–Trump Washington summit last week: real tariff relief on $60 billion of two-way trade, plus a two-month extension of the trade truce to January 10.
The product lists hit both sides' core constituencies — U.S. farmers get better access to China, while Chinese consumer goods get cheaper in the U.S. ahead of the holiday season. Soybeans, however, were notably left out.
Full report
China and the United States have agreed to cut tariffs on about $60 billion of goods imported from each other, each side putting roughly $30 billion of non-sensitive goods on the table for more favorable treatment, U.S. Trade Representative Jamieson Greer said in a statement on Sunday.
Greer described the deal, made under the U.S.-China Board of Trade, as unlocking improved market access for about 30 percent of U.S. exports to China. It was among the key takeaways from the second summit this year between Chinese President Xi Jinping and U.S. President Donald Trump, hosted in Washington last week.
China plans to trim duties on U.S. agricultural goods including corn, wheat, sorghum, meat, dairy, vegetable oils and meals — but not soybeans. Beijing will also look at reducing levies on U.S. fish and seafood, logs and wood products, cosmetics and medical devices.
Washington's reciprocal cuts cover Chinese small appliances such as coffee makers and toasters, tableware, blankets and bed linens, toys, fireworks, artificial flowers, Christmas tree lamps and other holiday decorations, and children's car seats.
Separately, China's commerce ministry said Monday the bilateral trade truce will be extended by two months to January 10, providing what it called a relatively stable and predictable policy environment for companies and continued talks.
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