US, China strike deal to lower tariffs on $30B in goods after Trump-Xi Washington summit

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US, China strike deal to lower tariffs on $30B in goods after Trump-Xi Washington summit

Fox News · 4 hours ago

The United States and China have agreed to reduce tariffs on $30 billion worth of “non-sensitive” goods after a three-day summit between Donald Trump and Xi Jinping in Washington. The deal marks a significant easing of tensions in the trade war and is intended to support trade in selected sectors while creating a framework for further negotiations.

Chinese tariff concessions will cover US agricultural products, seafood, timber, cosmetics and medical devices, while US imports of Chinese appliances, toys, decorations and children’s car seats will receive preferential treatment. The countries have not yet published the final tariff rates or complete product list, with further details expected after weeks of negotiations. The agreement follows tariffs that previously reached 145% on Chinese goods and 125% on US goods, as well as earlier truces and tentative commitments concerning fentanyl chemicals, soybeans and rare-earth exports.

  • US and China will cut tariffs on $30bn of selected goods.
  • The agreement covers agricultural, consumer and medical products.
  • Further tariff details and wider negotiations are expected.

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