Photo: Collected
Under an understanding with China, the United States and China may impose lower tariffs on about $30 billion worth of each other’s goods. The White House on Sunday published the list of potential products in this regard. However, no timetable or specific rate was given on how much the tariffs would be cut or when that would take effect.
News agency AFP reported this.
US President Donald Trump and Chinese President Xi Jinping held a meeting on Friday. Trade and various other issues came up in their discussion.
According to the terms of the understanding published by the White House, the United States and China will review the lists of these products and consider granting each other the benefit of lower tariffs.
The United States may cut tariffs on 77 types of products imported from China. These products include fireworks, Christmas decoration items, household goods and sports equipment.
China, on the other hand, may cut tariffs on more than 1,600 types of products imported from the United States. The list includes various kinds of meat, including beef, pork and poultry, and seafood. It also includes grains, dairy products, whiskey, coal and timber.
The White House said on Friday that, following Xi Jinping’s visit to Washington, the two countries had reached an understanding on some ‘recommendations’ for granting more favourable tariff rates on these ‘non-sensitive goods’.
China also confirmed the understanding on Saturday.
The White House further said China has agreed to import at least 10 million metric tons of coal from the United States in 2027 and 2028.
Xi and Trump had agreed to a trade truce at a meeting in South Korea last year. Before that, the two countries’ tit-for-tat tariffs had brought the situation to such a point that the tariff rate at one stage exceeded 100 percent.
That trade understanding was originally due to expire in November. However, the two countries have agreed to extend it until 10 January, US Treasury Secretary Scott Bessent said.
