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Business

US and China unveil tariff-cut lists covering $60bn of goods after Washington summit

Washington and Beijing have published lists cutting tariffs on $60bn of non-sensitive goods — US corn, wheat and cosmetics on China's side; Chinese toys, appliances and Christmas decorations on America's — the first concrete tariff relief from last week's Xi-Trump summit.

By Priya Raman · · 2 min read

Illustration: Flip News

The United States and China have agreed to cut tariffs on $60 billion worth of goods traded between them, publishing detailed lists on Monday covering everything from American corn to Chinese Christmas tree lights.

Under the US-China Board of Trade, each country recommended $30 billion of non-sensitive goods for more favourable tariff treatment, US Trade Representative Jamieson Greer said in a statement on Sunday, Reuters reported. The US list covers 77 Chinese products while China’s covers 1,619 American products, The Week reported, with about 90 per cent of the goods due to fall to most-favoured-nation rates once both sides complete domestic legal processes.

China plans to trim duties on US corn, wheat, sorghum, meat, dairy, vegetable oils, fish and seafood, logs and wood products, cosmetics and medical devices. Soybeans were not included. Washington’s reciprocal cuts cover Chinese small appliances such as coffee makers and toasters, tableware, blankets and bed linens, toys, fireworks, artificial flowers, holiday decorations and children’s car seats.

“President Trump is unlocking improved market access for about 30 per cent of US exports to China,” Greer said. The White House also confirmed China will import 10 million tonnes of US coal annually in 2027 and 2028, and that Beijing has committed to at least $17 billion in US agricultural purchases through 2028 alongside 25 million tons of soybeans a year.

The cuts were a key takeaway from the second Trump-Xi summit of the year, held in Washington last week. China’s commerce ministry said on Monday the two-month extension of the trade truce through 10 January would give both sides room to keep evaluating their arrangement. The $60 billion covered is a fraction of the $415 billion in total goods the two countries exchanged in 2025, The Week noted.

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