US and China Cut Tariffs on $60 Billion of Goods

The US and China have agreed to cut tariffs on $60 billion worth of goods under the '30-for-30' framework, which covers roughly $30 billion of US exports to China and $30 billion of Chinese exports to the US.

The agreement falls under a plan established during President Donald Trump's visit to Beijing in May, which recommended more favorable tariff treatment for 'non-sensitive' products.

The proposed cuts would bring relief to a wide range of goods, including live horses, camels, and fishing tackle. The White House has not yet specified the size of tariff reductions or when they will be implemented.