The U.S. and China have agreed to cut tariffs on $60 billion worth of goods. The late Sunday announcement falls under the “30-for-30” framework, covering roughly $30 billion of U.S. exports to China and $30 billion of Chinese exports to the U.S. The U.S.-China Board of Trade, established during President Donald Trump’s visit to Beijing in May, recommended more favorable tariff treatment for “non-sensitive” products.
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