US-China Tariff Cuts: $60B Worth of Goods Exempted from Trade War

China and the US have agreed to reduce tariffs on $60 billion worth of goods traded between them, according to US Trade Representative Jamieson Greer. This decision was made after a meeting between Chinese President Xi Jinping and US President Donald Trump in Washington last week.

The tariff cuts will apply to products such as American corn, wheat, sorghum, meat, dairy, vegetable oils, and meals, which are among the top exports from the US to China. Beijing will also reduce levies on US fish and seafood, logs, wood products, cosmetics, and medical devices.

In return, Washington has agreed to cut tariffs on Chinese small appliances, tableware, blankets, bed linens, toys, fireworks, artificial flowers, Christmas tree lamps, and children's car seats. This move is expected to benefit both countries' economies and create new job opportunities.