U.S. and China Agree to Lower Tariffs on $30 Billion in Goods

The United States and China have taken a step towards easing trade barriers by identifying approximately $30 billion in goods for tariff reductions. This agreement, stemming from the newly established U.S.-China Board of Trade, covers a wide range of U.S. agricultural products, including beef, pork, corn, wheat, dairy, and specialty crops. China's Ministry of Commerce expects about 90% of these covered products to see tariffs cut to most-favored-nation (MFN) rates.