US and China agree $60 billion low-tariff regime for non-sensitive goods
Source Summary
The US and China have agreed to establish a $60 billion low-tariff regime covering non-sensitive goods, ranging from foie gras to camels, as part of efforts to reduce trade tensions between the superpowers. The Board of Trade will lower levies on the designated goods under the new arrangement.
Why it matters
A bilateral tariff agreement of this scale signals a material shift in US-China trade relations and could reduce friction in one of the world's most consequential economic relationships.
