US and China to reduce tariffs on $60B goods

The United States and China have agreed to reduce tariffs on $60 billion worth of goods, covering products such as agricultural items, toys, and medical devices, following talks between President Trump and President Xi Jinping. Under the “30-for-30” framework, each country can import $30 billion of non-sensitive goods from the other at lower tariffs, aiming to improve market access and stabilize economic relations. The agreement also includes commitments for China to import at least 10 million metric tons of U.S. coal annually in 2027 and 2028. This move comes amid a trade truce extended since May 2025, with efforts to narrow the U.S. trade deficit with China.

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