US and China agree framework to study reciprocal tariff reductions on $60 billion worth of goods

The United States and China have established a framework for dialogue aimed at reviewing reciprocal tariff reductions on goods valued at approximately 60 billion dollars. Under this agreement, each nation is expected to evaluate potential tariff relief on 30 billion dollars worth of imports from the other party. The scope of the discussions includes a diverse range of products, such as Chinese toys and appliances, alongside American exports including meat, cereals, coal, and medical equipment.

This development marks a shift toward formalizing negotiations regarding trade restrictions between the two global powers. The framework is intended to facilitate a structured study of these reciprocal measures, though the specific implementation remains subject to the outcomes of the newly established dialogue process.