🇺🇸🇨🇳 U.S., China Narrow Tariff Cuts

The United States and China on Monday released reciprocal lists of nonsensitive goods worth about $30 billion each that will receive tariff cuts, days after the Trump-Xi meeting in Washington. The product lists, covering items from U.S. agricultural goods and medical equipment to Chinese toys and tableware, were published by both sides as part of a bilateral trade easing measure.

China said more than 90% of the covered products will shift to most-favored-nation tariff rates, effectively removing country-specific tariffs on those items. Strategic sectors including chips, electric vehicles and batteries were excluded, indicating the agreement is limited to lower-sensitivity trade while both sides also set up further agricultural cooperation under a trade board created in May.

The lists may be adjusted later, though likely no more than once a year. The move lowers tariffs on selected goods, but broader U.S. tariff levels on China remain well above pre-2025 levels.

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@asianomics