U.S., China to slash tariffs on goods worth US$30B after Trump-Xi meeting – National– globalnews.ca

The United States and China released Monday reciprocal lists of products worth about US$30 billion each that will see tariff cuts, from American hair products to Chinese toys, in a deal expected to boost bilateral trade.

The details came days after Chinese President Xi Jinping met with U.S. President Donald Trump in Washington in his first state visit to the U.S. since 2015. The U.S. had already reduced tariffs against China after Trump’s tariffs reached as high as 145 per cent at one point last year, as tensions between the two countries eased.

China’s commerce ministry said in a statement the agreement will help strengthen trade cooperation.