China and US agree on $30 billion tariff cut
China and the United States have agreed to reduce tariffs on goods valued at $30 billion, following President Xi Jinping's visit to Washington. Steps to strengthen economic understanding were announced. The reductions will cover American exports including agricultural products, lumber, and cosmetics, as well as American imports of small household appliances, toys, and decorations. Preferential tariff treatment will be granted to non-sensitive goods worth $30 billion, according to the White House statement and Reuters.
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