The United States and China have agreed on a trade package that will reduce tariffs on about $30 billion worth of goods following a high-level meeting between US President Donald Trump and Chinese President Xi Jinping, the White House said.
The agreement is being viewed as a potential sign of easing tensions in the long-running US-China trade war. The White House said the measures could lower prices for a range of consumer goods and provide some relief to US consumers facing persistent inflationary pressures.
Under the arrangement, China will reduce tariffs on selected US agricultural products, seafood, wood products, cosmetics and medical equipment. The United States, meanwhile, will lower tariffs on certain household appliances, toys, holiday decorations and child car seats.
As part of the package, China will import 10 million metric tonnes of US coal annually in 2027 and 2028, according to the White House. Before the trade dispute escalated, China was among the top five buyers of US coal, although its imports later declined sharply.
However, questions remain over one of the most contentious areas of the bilateral trade relationship — rare earths and other critical minerals.
The White House said the two countries would continue working to address US concerns over supply-chain shortages involving rare earths and other critical minerals, with the aim of restoring shipments to appropriate levels.
The agreement comes amid efforts by Washington and Beijing to manage their broader trade tensions and maintain the flow of goods between the world’s two largest economies.
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