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$60 billion deal

China & the US agree to cut tariffs

by Port News Editorial Staff

Over the last few hours, China and the US have reached a $60 billion agreement following the summit between US President Donald Trump and Chinese President Xi Jinping. The deal provides for a reduction in tariffs on numerous categories of goods.

China has singled out 1,619 products from the United States that will be allowed to enter the country with lower customs levies. The list includes a wide variety of goods: from maize to timber, as well as hair and personal care products and medical equipment, including X-ray machines.

Certain live animals are among the most unusual items, including whales for pure-bred breeding, emus and dugongs. Robots used in surgical procedures are also on the list.

However, not all US products have benefited from the reduction. Soya, which is one of the US’s main exports to China, is not, in fact, included amongst the goods covered by the agreement.

The United States has also published its own list, comprising 77 categories of products from China. These include fireworks, tableware, toys — including dolls and jigsaw puzzles — as well as wooden and glass Christmas decorations. Everyday items such as footballs and household scales are also included.

Two particularly strategic areas, however, are not part of the deal: rare earths and AI technologies. Significant restrictions on trade between the two powers therefore continue to apply to these sectors.

Translation by Giles Foster

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