🇺🇸 Donald Trump · 🇨🇳 Xi Jinping
US and China cut tariffs on $30B in goods after Trump-Xi meeting
What happened
The US and China have cut tariffs on around $30 billion worth of goods, with 1,619 categories of US exports to China and 77 categories of Chinese goods headed to the US being affected. The tariffs were reduced as part of a reciprocal agreement, with over 90% of the products receiving "most-favored-nation" tariff treatment. Strategically sensitive industries, including semiconductors, electric vehicles, and batteries, were left out of the agreement.
Why it matters
The agreement may benefit US farmers, manufacturers, and consumer brands in China, as well as lower costs for American shoppers purchasing household goods and toys.
Key facts
- Tariffs were cut on approximately $30 billion worth of goods.
- Over 1,619 categories of US exports to China were affected.
- 77 categories of Chinese goods headed to the US were also affected.
- More than 90% of the products will receive "most-favored-nation" tariff treatment.
Publisher evidence used
Reporting attributed to bakersfieldnow.com. WorldLeadersNews links readers to the publisher and does not present a headline-only item as a full article analysis.
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