The United States and China announced plans to substantially cut tariffs on imports worth approximately $30 billion. The products covered by the cuts were specified on both the U.S. and Chinese sides, along with products excluded from the measures.
The United States and China announced plans to substantially cut tariffs on imports worth approximately $30 billion. Both countries indicated the products covered and disclosed plans to proceed with publishing detailed product lists.
China was reported to have announced tariff cuts on agricultural imports from the United States, while soybeans were said to be excluded. Agricultural products are therefore expected to be included among the products covered by the tariff cuts agreed by both countries.
The same day, reports indicated that the two leaders still had room to consider the direction of future negotiations. Discussions are expected to continue on extending the truce and how to proceed with the talks.