3 days ago
US-China Trade Truce Tariff Cuts Remain Under Negotiation
The United States and China are discussing a trade truce.
They want to find about $30 billion worth of goods from each country that could receive lower or no tariffs.
Tariffs are extra charges placed on goods brought in from another country.
The plan includes creating a US-China Board of Trade to help choose the products.
About 10 types of goods are being discussed so far.
These include consumer products, farm goods, energy and medical devices.
However, the two countries have not agreed on the final list.
They also have not decided exactly how the tariff cuts would work.
The United States and China agreed to work toward identifying about $30 billion in goods in each direction for possible tariff reductions.
A proposed US-China Board of Trade would help identify products eligible for lower or eliminated tariffs.
About 10 product categories are reportedly under discussion, including consumer goods, agriculture, energy and medical devices.
The countries have not finalized the list of products eligible for tariff relief.
They also have yet to agree on how any tariff cuts would be implemented.
- Who
- The United States and China.
- What
- The countries are working toward tariff relief covering about $30 billion in goods in each direction.
- Where
- The trade discussions concern goods traded between the United States and China.
- When
- The latest reporting says the discussions are ongoing; no final date is given.
- Why
- To identify products that could receive lower or eliminated tariffs.
Key facts
- Proposed tariff relief
- About $30 billion in goods in each direction.
- Product categories discussed
- About 10 categories.
- Categories mentioned
- Consumer goods, agriculture, energy and medical devices.
- Proposed mechanism
- A US-China Board of Trade would identify eligible products.
- Current status
- The product list remains unfinalized.
- Implementation status
- The countries have not agreed how tariff cuts would be implemented.
Sources
Related news
US-China Board Proposes Tariff Cuts Covering $30 Billion Each Way
US and China Release Lists for Planned Tariff Cuts
China and US Pursue Reciprocal Tariff Cuts Before Trump-Xi Summit
US-China Reveal $30 Billion Reciprocal Tariff Reduction Framework
Trump Welcomes Xi as US, China Extend Trade Truce
China Says Trade Truce Extension Creates Space for Talks
Trump’s White House Press Fight Tests First Amendment Access
Rights Group Revises Gaza Journalist Death Toll After Review
Officials reaffirm commitment to deaf community welfare in Anantapur
Trump Tells CNN It Should Not Be Here at UN
