The United States and China are proposing tariff reductions on around $60 billion in goods, following a visit from Chinese President Xi Jinping to Washington, D.C.
A newly established U.S.-China Board of Trade has suggested lowering tariffs on both sides for a list of products, which represents $30 billion in exports for each country, as outlined in a weekend press release from the White House.
“Thanks to the strong relationship between President Trump and President Xi, the U.S. and China, under the new Board of Trade, have recommended $30 billion of trade in non-sensitive goods that could benefit from more favorable tariffs moving forward,” remarked Jamieson Greer, the U.S. trade representative.
The proposed tariff cuts will affect a range of Chinese imports to the U.S., including fireworks, curtains, household scales, skeet targets, and fish hooks, among other items. American exports to China are also included in this agreement, covering livestock, seafood, dairy products, and vegetables — known to constitute about 30% of total U.S. exports to China, according to Greer.
“From agricultural goods to medical devices, President Trump is enhancing market access for around 30 percent of U.S. exports to China while allowing American consumers to benefit from imports of household items, toys, and other goods that the U.S. typically doesn’t source from other nations,” Greer stated.
On Monday, China’s Ministry of Commerce released a statement confirming that an agreement has been made, mentioning that the reductions will take effect once both nations meet the necessary procedures in line with their domestic laws.
This announcement comes after President Xi and his wife, Madam Peng Liyuan, concluded their three-day visit to Washington, D.C. President Trump characterized the meeting as “one of Friendship, Strength, and Success.” Upcoming meetings are scheduled for the leaders in China and the U.S. in November and December, respectively.
Greer emphasized that American leadership would persist in strengthening trade relations with China, aiming for a more balanced trade scenario between the two countries.
“The Trump Administration will continue to seek fair, balanced, and reciprocal trade with China, ensuring adherence to commitments regarding agricultural and energy purchases, while also securing access to markets for American farmers, manufacturers, businesses, and workers,” he added.
