The United States and China are moving toward tariff cuts covering about 60 billion dollars in goods traded between the two countries, including several major agricultural products. Each country identified roughly 30 billion dollars in non-sensitive goods for more favorable tariff treatment. China’s list includes U.S. corn, wheat, sorghum, meat, dairy products, vegetable oils and meals. However, soybeans — the biggest U.S. agricultural export to China — were left off the tariff-reduction list.

The agreement followed President Donald Trump’s September 24th meeting with Chinese President Xi Jinping in Washington. The two countries also extended their broader trade truce while negotiations continue. The tariff reductions could improve access for several U.S. agricultural products, although important trade disputes remain unresolved. 

By: NATHAN STUEDLEThe United States and China are moving toward tariff cuts covering about 60 billion dollars in goods traded between the two countries, including several major agricultural products. Each country identified roughly 30 billion dollars in non-sensitive goods for more favorable tariff treatment. China’s list includes U.S. corn, wheat, sorghum, meat, dairy products, vegetable oils and meals. However, soybeans — the biggest U.S. agricultural export to China — were left off the tariff-reduction list.The agreement followed President Donald Trump’s September 24th meeting with Chinese President Xi Jinping in Washington. The two countries also extended their broader trade truce while negotiations continue. The tariff reductions could improve access for several U.S. agricultural products, although important trade disputes remain unresolved.

China, U.S. move toward $60 billion in tariff cuts