China and the United States have agreed to mutually cut tariffs on goods worth about $60 billion, a deal reached at a meeting between Chinese President Xi Jinping and US President Donald Trump in Washington, the website infohub.kz reports.
According to Reuters, the agreed lists include American food products and Chinese household goods. The new rates will take effect after both countries complete the necessary domestic procedures.
Each country will cut tariffs on imports by roughly $30 billion. According to China's Ministry of Commerce, more than 90% of the goods on the agreed lists will be exempted from additional mutual tariffs. The ministry has not yet announced a date for the new rates to take effect.
China plans to lower tariffs on American corn, wheat, sorghum, meat, dairy products, fish and seafood. The list also includes timber, cosmetics and medical products. Soybeans, one of the key US exports to China, were not included.
The United States, in turn, proposes cutting tariffs on Chinese coffee makers, toasters, tableware, blankets, bedding and toys. The list includes children's car seats and holiday decorations.
The tariff agreement was one of the outcomes of the meeting between the two leaders. The sides also extended their trade truce by two months, until January 10, 2027. It provides for the suspension of some tariff and other trade measures.
China's Ministry of Commerce believes the extension will give the countries time to assess what has already been agreed and to continue negotiations. For companies, it will create "relatively stable and predictable conditions," the ministry said.
The United States also said China will buy at least 10 million tons of American coal a year in 2027 and 2028. By the end of 2026, the two countries intend to hold the first meeting of a working group on agricultural trade.