US, China agree to cut tariffs on $60B worth of products

The U.S. and Chinese governments unveiled $30 billion each worth of products subject to lower tariffs, after President Trump and Chinese President Xi Jinping met last week in Washington, D.C., according to the White House.

Chinese products subject to lower tariffs under the new “30-by-30” framework include fireworks, kitchenware, flashlights, baseballs and softballs and fishhooks, as specified by a list of imports the White House released .

If the lower taxes had been applied last year, nearly 10 percent of U.S. imports from China would have been affected, according to data from the U.S. Census Bureau.

American businesses, meanwhile, exported nearly $106 billion worth of goods to Beijing in 2025 — therefore, the reduced tariffs would have applied to about 30 percent of exports.

Agricultural goods account for the majority of U.S. exports to China subject to the lower tariffs, CNBC reported .

U.S. Trade Representative Jamieson Greer said Sunday the framework is a “direct result of the strong relationship” between Trump and Xi, who met last week for the Chinese leader’s first state visit to America since 2015.

The summit was a follow-up to the two leaders’ meeting in Beijing in May, during which they agreed to establish a U.S.-China “ Board of Trade ” regarding noncritical items.

“From agricultural products to medical devices, President Trump is unlocking improved market access for about 30 percent of U.S. exports to China, while benefiting consumers with imports from China of household goods, toys, and other products that the United States generally does not import from other countries,” Greer said in a statement .

He added the administration “will continue to pursue fair, balanced, and reciprocal trade” with China.

Greer’s office has probed Chinese labor practices under Section 301 of the Trade Act of 1974.