Washington: The US will ship agricultural products and medical devices to China in exchange for household goods, toys and other products at lower tariffs under the trade arrangement announced during President Xi Jinping’s visit to America.
US Trade Representative Jamieson Greer announced the US-China Board of Trade’s recommendations late Sunday evening. The Board was established during President Donald Trump’s visit to Beijing in May.
“As a direct result of the strong relationship between President Trump and President Xi, the United States and China, under the auspices of the new Board of Trade, have recommended USD 30 billion of trade in non-sensitive goods on each side that could benefit from more favourable tariff treatment in the future,” Greer said in a statement.
“From agricultural products to medical devices, President Trump is unlocking improved market access for about 30 per cent of US exports to China, while benefiting consumers with imports from China of household goods, toys, and other products that the United States generally does not import from other countries,” he said.
Xi arrived in the US Wednesday evening for a three-day visit that began with a rare planeside welcome by Trump. The two leaders met over two hours at the White House Thursday and were together again at the state dinner hosted by Trump in Xi’s honour.
A Chinese readout on the meetings said that the economic and trade teams of the two sides reached a new joint arrangement, which is good news for both the industries and people of the two countries and even the world economy.
Greer said the Trump Administration will continue to pursue fair, balanced, and reciprocal trade with China by ensuring compliance with commitments on agricultural and energy purchases.
The USTR said the US will also pursue balanced trade in non-sensitive goods and secure market access for American farmers, manufacturers, businesses, and workers.
As per the terms of reference issued for the framework, the two sides agreed that the initial focus of the Board of Trade is a dialogue to consider lists of mutually agreed-upon imported goods totalling roughly USD 30 billion on each side, with a view toward providing reduced tariff treatment to those goods reciprocally.
Future tariff reductions involving the products on the two approved lists will be determined and implemented in accordance with each side’s domestic legal processes, the ToR said.
The US import list contains 77 tariff entries, including items such as plastic tableware, bed and table linen, umbrellas, kitchen appliances, playing cards, sports equipment and Christmas ornaments.
The board’s procedures name Treasury Secretary Scott Bessent and Greer, and Vice Premier He Lifeng as the principals for the US and China, respectively.
Deputies from both sides developed the product proposals and will monitor trade in the goods covered.
Those deputies are expected to meet at least quarterly and may propose changes to the lists, though the two governments do not expect to adjust them more than once a year.
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