Chinese President Xi Jinping and his wife Peng Liyuan join US President Donald Trump and first lady Melania Trump for a tea meeting in the Red Room of the White House on Friday (local time). [UPI]
Chinese President Xi Jinping and his wife Peng Liyuan join US President Donald Trump and first lady Melania Trump for a tea meeting in the Red Room of the White House on Friday (local time). [UPI]

China on Monday released its list of products eligible for tariff reductions after the two countries agreed at a summit to cut tariffs worth $30 billion each.

China included American agricultural products and coal among its designated items, while the United States targeted Chinese toys, home appliances and related consumer goods for cuts.

China's Ministry of Commerce announced on its website Monday that the two sides had agreed on matching "$30 billion for $30 billion" tariff-reduction product lists — along with other measures — at the eighth round of economic and trade negotiations, held in New York and Washington from Tuesday through Friday. The agreement was also confirmed at the leaders' summit on Thursday and Friday.

China designated American agricultural products, personal care items, medical devices and coal for tariff cuts. The US side agreed to lower tariffs on roughly $30 billion worth of Chinese goods, including toys, home appliances, infant products, kitchen and bathroom items, and holiday gift products.

For more than 90 percent of the products covered, the two sides agreed to eliminate all additional tariffs they had imposed on each other and apply only most-favored-nation rates. Both countries said they would implement the tariff reductions simultaneously after completing their respective domestic legal procedures.

Earlier Monday, the Commerce Ministry released a briefing on the eighth-round negotiations under the name of the director of its Americas and Oceania Department. The ministry announced that tariffs on American coal would be included in the mutual tariff-reduction package, saying the move "will help expand China's imports of US coal in 2027 and 2028." It added that American coal imports "will complement China's domestic coal market while providing stable revenue and jobs for the US coal industry." The measure calls for China to import at least 10 million metric tons of American coal in each of 2027 and 2028.

On agriculture, the two sides agreed to establish a dedicated consultative body following a May agreement in principle to include some farm products in the tariff-reduction package. China had committed in May to increase purchases of American agricultural goods and has been fulfilling its pledged volumes for soybeans, but the US side noted that progress on other farm commodities has been slow.

The two countries agreed to set up an agricultural working group under the US-China Trade Council, to be co-chaired by China's Ministry of Commerce and the US Trade Representative, with a first meeting to be held before the end of this year. The Commerce Ministry said it would continue to press the US side through working group meetings to address China's concerns in the agricultural sector.

In financial services, China agreed to review and decide on applications by foreign financial institutions — including American firms — to operate in China and open branches, in accordance with relevant laws and regulations. Citing the principle of reciprocity, China called on the US to take similar steps, asking Washington to provide a fair, transparent and stable policy environment for Chinese financial institutions.

Regarding the US-China Investment Council, the two sides agreed to hold regular economic and trade dialogues, improve policy transparency and predictability, and address business concerns. They also agreed to continue discussions on expanding direct passenger flights between the two countries.

The US and China agreed to hold the next round of AI talks before the end of November. On the two-month extension of the trade truce — originally set to expire Nov. 10 but now extended to Jan. 10 next year — the Commerce Ministry said the two sides would continue to discuss the possibility of a further extension. Responding to critics who called the two-month extension too short, the ministry said the extension "provides time to review the implementation of existing agreements and consider how to develop future economic and trade relations," adding that it would "seek options for a further extension through high-level economic and trade consultations before year-end."


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