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Newsday
US and China outline products in $30B tariff agreement
The United States and China announced reciprocal tariff reductions on about $30 billion worth of each other's goods, including agricultural products, consumer items, and raw materials. The agreement aims to boost bilateral trade by lowering tariffs on over 90% of the covered products to most-favored-nation levels and allows for potential annual adjustments. While the deal excludes some strategic sectors, it is expected to facilitate increased trade flows, particularly benefiting U.S. exports to China and Chinese exports to the U.S., amid ongoing tensions and a recent extension of their broader trade truce.
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