China, U.S. Agree to Tariff Reductions on $60 Bllion of Goods

China and the United States have agreed to cut tariffs imposed on $60 billion worth of goods imported from each other, on an array of products ranging from U.S. corn to cosmetics, and from Chinese household appliances to toys.

Under the U.S.-China Board of Trade, both countries have each recommended $30 billion of trade in non-sensitive goods for more favourable tariff treatment, U.S. Trade Representative Jamieson Greer said in a statement on Sunday.

For the United States, that was "unlocking improved market access" for about 30 percent of U.S. exports to China, Greer added.

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