China and the U.S. agreed to cut import tariffs on 77 categories of Chinese products and 1,619 U.S. products worth $60 billion, following Chinese President Xi Jinping’s visit to Washington on September 24, where he met with Donald Trump.
The commitment to cut tariffs on a broad range of goods is the most substantial step taken by the two countries so far to demonstrate efforts to improve relations, which have reached new lows over the past year.
The agreement excluded raw materials and products that each side considers sensitive, including rare earths and technologies used in AI development.
The U.S. said the agreement would benefit consumers, while China said it would help stabilize China-U.S. trade.
China also agreed to import at least 10 million metric tons of coal from the U.S. in 2027 and another 10 million in 2028. The White House described the move as President Trump’s “revival of the American coal industry.”
Ahead of the talks between Xi and Trump, China agreed to extend an existing trade truce between the two countries by two months. The truce was agreed in South Korea last year, following a brief but damaging tariff war.
Source: New York Times
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