Trump and Xi Agree to Reciprocal Tariff Reductions
President Donald Trump and President Xi Jinping agreed to reciprocal tariff reductions on billions of dollars in goods following a trade summit in Washington.
The White House released lists of products on Sunday that may receive lower tariffs under a reciprocal arrangement with China covering $30 billion in goods in each direction. The agreement follows a summit in Washington between Donald Trump and Chinese President Xi Jinping.
Under the proposal, the United States may reduce tariffs on 77 categories of Chinese goods, including sports equipment and fireworks. In return, China's list includes over 1,600 categories of American goods, such as dairy, grains, meats, timber, and coal. China also committed to importing at least 10 million metric tons of U.S. coal in 2027 and 2028.
U.S. Treasury Secretary Scott Bessent confirmed that the existing trade truce, which was originally scheduled to expire in November, has been extended until January 10.
