US and China agree on tariff relief for $30bn of nonsensitive goods each

NEW YORK/SHANGHAI -- The U.S. and China agreed on recommendations for "more favorable tariff treatment" covering $30 billion of nonsensitive products traded in each direction, the White House said late Friday, shortly after the two countries' presidents concluded a summit in Washington. The proposed U.S. exports include agricultural goods, fish and seafood, logs and wood products, cosmetics and medical devices, according to a fact sheet. Eligible Chinese goods would include small appliances, toys, holiday decorations and children's car seats. China is the dominant supplier of Christmas trees and related accessories to America. The limited tariff relief could help at least some small and midsize businesses, which make up 99% of all U.S. companies and have broadly struggled to diversify supply chains out of China since Trump imposed tariffs on Chinese goods. The two countries also agreed that China would import at least 10 million metric tons of American coal next year and again in ...