Washington and Beijing have now outlined the commodities that stand to benefit from the trade agreement reached at last week’s summit between US President Donald Trump and Chinese President Xi Jinping.
The US list includes 77 categories of Chinese commodities, while China’s list includes 1,619 categories of American items. Neither country has disclosed the extent or timing of the reduction. With a view toward providing reduced tariff treatment to those goods in a reciprocal manner,” the White House said, the two nations will examine the goods.
The US-China Board of Trade, which was established during Trump’s May visit to Beijing following months of negotiations, created the lists to oversee trade in products that both countries deem non-sensitive.On Friday, as Xi concluded his three-day visit to Washington, the White House declared that the two countries had reached an agreement on “recommendations” for “non-sensitive goods.”
On Saturday, Beijing verified the agreement. The declaration expands upon a trade agreement reached in South Korea in October of last year, following the imposition of more than 100% tariffs on each other’s goods by the US and China. After the summit, US Treasury Secretary Scott Bessent stated that the agreement, which was scheduled to expire in November, had been extended until January 10.
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