Trump and Xi Agree to Cut Tariffs on $30 Billion Worth of Goods
President Donald Trump and Chinese President Xi Jinping have agreed to reduce tariffs on $30 billion worth of non-sensitive goods traded between the U.S. and China in each direction, according to a statement from the White House late Friday. The agreement includes agricultural products, fish, and other items for U.S. exports while covering unspecified categories for imports into the United States. The move is seen as an effort by both leaders to ease trade tensions that have persisted since their initial phase-one deal in early 2020. While details on which specific goods will be affected remain unclear, analysts suggest this could provide relief to industries such as agriculture and manufacturing impacted by previous tariffs. The reduction may also signal a shift toward stabilizing the U.S.-China economic relationship ahead of potential negotiations.
Topics: agricultural exports tariffs US-China trade relations