US and China announce details of planned tariff cuts
China and the United States have announced details of planned tariff reductions covering around 1,700 product categories. Both sides published lists of goods that are set to benefit from significantly lower duties, although no date has yet been announced for the tariff cuts to take effect.
The US list includes 77 product categories, including fireworks, household goods, sports equipment and toys. The list of products covered for imports into China contains 1,619 items, including meat, seafood, dairy products, grain, coal, wood and medical equipment.
The planned tariff relief covers goods worth around $30 billion in each direction, for a total of approximately $60 billion in bilateral trade. The two countries have also extended their existing trade truce until January 10, 2027, while continuing discussions on broader trade and investment arrangements.