US lists goods for lower tariffs under China trade deal
US lists goods for lower tariffs under China trade deal
The White House on Sunday released lists of products that could benefit from lower tariffs under an arrangement with China affecting $30 billion in goods in each direction, without specifying the rates or timetable.
US President Donald Trump and his Chinese counterpart Xi Jinping concluded a summit on Friday, with their talks covering matters including trade.
The United States and China will review the lists “with a view toward providing reduced tariff treatment to those goods in a reciprocal manner,” according to the terms released by the White House.
The US could reduce tariffs on 77 categories of Chinese goods including fireworks, Christmas ornaments, household goods and sports equipment.
China’s import list includes more than 1,600 categories of American goods, including meats — beef, pork, poultry and seafood — grains, dairy, whiskey, coal and timber.
The White House announced on Friday an agreement on “recommendations” for more favourable tariff treatment for these “non-sensitive goods,” following Xi’s visit to Washington.
