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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[–] 4 points 7 hours ago

Oil markets. China stopped importing almost half of their ten million per day oil usage by using their vast stocks.

https://www.investing.com/news/stock-market-news/china-maintains-reduced-oil-imports-despite-iran-war-pressures-93CH-4912360

This is propping up the oil markets and kept the worst of price instability in check.

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