WASHINGTON — The United States and China have agreed to cut tariffs on $60 billion worth of goods under a “30-for-30” framework covering $30 billion each in non-sensitive goods, Reuters and CNN reported Sunday. The arrangement marks a mutual step back in the tariff confrontation between the world’s two largest economies.
China’s tariff-cut list spans 1,619 items, including corn, wheat, dairy products and medical devices, according to the reports. Soybeans, a major American export to China, were not included on the Chinese list.
The American tariff-cut list covers goods including small appliances, toys and car seats, according to the reports. The framework limits the cuts to non-sensitive goods on both sides, leaving more strategic categories untouched.
As part of the arrangement, China pledged to purchase 10 million metric tons of American coal in 2027 and again in 2028. The pledge is a forward commitment rather than an immediate purchase, and similar past Chinese purchase pledges have a history of under-delivery, according to the reporting.
The two sides also extended their trade truce to Jan. 10, pushing back the deadline for further escalation, according to the reports. The extension gives negotiators additional time to work toward a broader understanding.
The agreement followed the second summit between Trump and Xi in Washington, according to the reports. The meeting between the two leaders set the stage for the tariff framework and the extended truce. The “30-for-30” structure commits each side to equal tariff relief, with $30 billion in cuts on each side of the ledger.