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China, US Plan More Preferential Tariff Treatment on Respective USD30 billion Goods, Covering China-made Household Products, Sporting Goods and Toys
2026-09-28 10:58:53 Following the meeting between the Chinese and US leaders, the US and China agreed to grant more preferential tariff treatment to respective USD30 billion worth of goods. According to the list released by the White House, products exported to the US including fireworks, household products, sporting goods and toys are proposed to receive tariff cuts; while products for which China plans to reduce import tariffs include meat, seafood, dairy products, grains, coal, timber and medical equipment. China has yet to release or confirm the product list. China's Ministry of Commerce said the two countries will establish a China-US Trade Council, which will first discuss the reciprocal tax reduction framework of "USD30 billion for USD30 billion" in a bid to reach consensus. According to China's statement, tariffs on coal imported by China from the US will be included in the reciprocal tax reduction framework, which will benefit China's imports of coal from the US annually over the next two years.(mn/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |