U.S. and China cut tariffs on $30B of goods each after Trump-Xi meeting

The United States and China released reciprocal product lists on Monday covering about $30 billion of goods each that will see tariff cuts, days after Chinese President Xi Jinping met President Donald Trump in Washington — Xi's first state visit to the U.S. since 2015.

The lists cover 1,619 U.S. goods entering China, from agricultural commodities and timber to personal care products, medical equipment, and coal, plus 77 categories of Chinese goods exported to the U.S., including fireworks, tableware, toys, glass and wooden Christmas ornaments, and soccer balls. China's commerce ministry said tariffs on more than 90% of the products would fall to “most-favored-nation” levels, effectively wiping out the country-specific duties.

U.S. Trade Representative Jamieson Greer said the lists focused on “nonsensitive goods on each side that could benefit from more favorable tariff treatment,” adding the deal could help secure market access for U.S. farmers, manufacturers, businesses, and workers. Both countries said the lists can be adjusted later, but likely no more than once a year.

Why it matters

Cheaper cross-border trade usually means more freight, and tariff relief on thousands of products could lift import and export volumes — the lifeblood of container, drayage, and intermodal work. Note the contrast with the trailer story above: while consumer goods get relief, steep duties on imported van trailers are still coming. Watch how the two move freight demand in opposite directions.