The United States and China have published lists of goods recommended for tariff reductions covering $60bn of trade, following a summit between Presidents Trump and Xi, according to Al Jazeera.
Key facts
- The US and China have listed goods recommended for tariff reductions, according to Al Jazeera.
- The agreement covers $60bn of trade, according to Al Jazeera.
- The move follows a summit between Presidents Trump and Xi, according to Al Jazeera.
- Details were announced by both Washington and Beijing.
- Further specifics, including the scope of cuts and a timeline for implementation, were not provided in the available material.
Washington and Beijing have published lists of goods recommended for tariff cuts as part of an agreement to reduce tariffs on $60bn of trade, according to Al Jazeera.
The move follows a summit between US President Trump and Chinese President Xi, according to Al Jazeera.
Al Jazeera reported the announcement without further detail in the available material. The specific products involved, the scale of the reductions and the timeline for implementation were not stated.
Why it matters
Trade between the United States and China affects prices and supply chains worldwide, so any move to lower tariffs can have effects beyond the two countries. Announcements on tariffs between the two economies are closely watched by markets and policymakers.
Frequently asked questions
How much trade does the agreement cover?
According to Al Jazeera, the agreement is aimed at reducing tariffs on $60bn of trade between the US and China.
What prompted the tariff cut agreement?
The agreement follows a summit between US President Donald Trump and Chinese President Xi Jinping, after which both sides listed goods recommended for tariff cuts.
Which goods will see tariff cuts?
Both Washington and Beijing have published lists of goods recommended for tariff reductions, according to Al Jazeera, though further specifics were not provided in the available material.