US and China to cut tariffs on $60B goods
The United States and China have announced lists of products eligible for tariff reductions on imports worth approximately $60 billion, with about $30 billion allocated to each side. The American list includes Chinese goods such as toys, small household appliances, kitchen tools, and holiday decorations, while the Chinese list features American agricultural products like grains, seafood, coal, timber, and medical equipment. There are expectations to eliminate tariffs on about 90% of these products once legal procedures are completed. Although the total value of these goods represents a limited portion of the bilateral trade volume, which reached $415 billion last year, the plan indicates an improvement in relations and easier access to American agricultural products and medical industries in the Chinese market, despite ongoing broader trade disputes.
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