White House · China · Donald Trump · U.S. · Axios
U.S., China reach $30 billion tariff agreement after Trump-Xi summit
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The U.S. and China have reached a deal to lower tariffs on $30 billion of "non-sensitive goods" as part of a trade package agreed at this week's summit between President Trump and Xi Jinping, the White House said.
Key facts
- The White House also said China would import 10 million metric tons of U.S. coal in 2027 and again in 2028
- The U.S. and China have reached a deal to lower tariffs on $30 billion of "non-sensitive goods" as part of a trade package agreed at this week's summit between President Trump and Xi Jinping
- The Trump administration said China would lower its tariffs on some agricultural goods and seafood, wood products, cosmetics, and medical devices
- Such a deal would mark a thaw in the trade war that engulfed the two countries last year
Summary
Such a deal would mark a thaw in the trade war that engulfed the two countries last year. As laid out by the White House, it would also potentially lower prices on a variety of consumer goods where American shoppers have felt the pinch of inflation. The Trump administration said China would lower its tariffs on some agricultural goods and seafood, wood products, cosmetics, and medical devices. The U.S. will cut tariffs on small appliances, toys, holiday decorations, and kids' car seats.