The U.S. and China Agree to Slash Tariffs on $60 Billion in Goods

The United States and China agreed to slash tariffs on $60 billion worth of nonsensitive goods, including corn, wheat, dairy, and toys, unlocking improved market access for about 30 percent of U.S. exports. However, soybeans are excluded from the cuts as Beijing continues its retaliation. The move aims to ease trade tensions after U.S. duties on Chinese goods reached 145 percent last year.