US, China release $30 billion tariff rollback lists
The United States and China have released reciprocal product lists for tariff cuts covering about $30 billion of trade each way. The lists set the rules for the planned rollback of duties.
The move follows months of talks between the two countries. Both sides published their lists around 28 September, detailing which goods will see lower tariffs.
MLex reported that China’s list comes with trade council rules on how the cuts will apply. The Hindu BusinessLine said the American list covers a matching $30 billion in products.
The lists were published within days of each other. Businesses will now watch for the timeline of the cuts.
Officials will now work on the timeline for the cuts. Further rounds of talks are expected in the coming weeks. The deal covers goods worth about $30 billion on each side. Exporters in both countries have welcomed the move, saying it will lower costs and boost trade.
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