China said it planned to trim duties on a variety of U.S. agricultural goods, while the U.S. plans tariff cuts on toys, small appliances and other items.

China and the United States have agreed to cut tariffs imposed on $60 billion worth of goods imported from each other, on an array of products ranging from U.S. corn to cosmetics, and from Chinese household appliances to toys.

Under the U.S.-China Board of Trade, both countries have each recommended $30 billion of trade in non-sensitive goods for more favourable tariff treatment, United States Trade Representative Jamieson Greer said in a statement on Sunday.

For the United States, that was “unlocking improved market access” for about 30% of U.S. exports to China, he said.

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[–] 1 point 8 hours ago (1 child)

Why would the US have crashed hard if not for China?

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