U.S. and China strike trade deal for tariff cuts worth nearly $30 billion each

The United States and China released reciprocal lists of products worth approximately $30 billion each for tariff cuts to boost bilateral trade. This agreement follows a meeting between President Donald Trump and President Xi Jinping in Washington. The lists include 1,619 U.S. goods entering China. China's commerce ministry stated the deal will strengthen trade cooperation, following a period where U.S. tariffs reached 145%. This move signals easing tensions and a commitment to reciprocal trade benefits.