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Trade — China — Economy

China, US Lower Tariffs On Agriculture, Appliances And Consumer Goods

China’s Commerce Ministry said the truce extension would provide a more stable environment for businesses and allow further negotiations.

,   and  TIPP Staff
2 min read

China and the United States have agreed to reduce tariffs covering about $76 billion worth of goods, while extending their trade truce through January 10, according to statements from both governments.

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Under the US-China Board of Trade, each country identified about $30 billion in non-sensitive goods eligible for lower tariffs. China’s list includes US agricultural products such as corn, wheat, meat and dairy, along with seafood, timber, cosmetics and medical devices.

Soybeans were excluded. The US will lower reciprocal tariffs on Chinese products including small appliances, household goods, toys and holiday decorations.

China’s Commerce Ministry said the truce extension would provide a more stable environment for businesses and allow further negotiations.

The two sides also agreed to create an agriculture working group and said China would import 10 million metric tons of US coal annually in 2027 and 2028.

According to the report, Washington and Beijing also agreed to establish an AI incident communication channel and continue discussions on financial services and direct flights.

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tippinsightsTIPP Staff

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