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China Cuts Tariffs on U.S. Farm Goods but Excludes Soybeans
The tariff lists cover about $30 billion in imports from each country, with soybeans left subject to an additional 10% duty.
China will lower tariffs on about $30 billion of U.S. imports but exclude soybeans, leaving a major U.S. agricultural export subject to an additional 10% duty.
The Chinese list includes corn, wheat, sorghum, vegetable oils, soyoil, soymeal, meat and dairy products. U.S. soybeans, however, were not included.
The United States will reduce tariffs on roughly $30 billion of Chinese imports, including toys, household appliances, baby products, kitchen and bathroom goods, and holiday gifts.
The two countries also agreed to establish a trade committee whose first task will be to discuss the reciprocal tariff reductions.
