China and the United States have agreed to lower tariffs on $60 billion worth of goods, with each country unveiling separate lists of nonsensitive products. Washington’s list includes 77 items such as Christmas toys, fishing hooks, and car seats, while Beijing’s list covers 1,619 products including agricultural goods, medical devices, and live animals. The move follows a visit by Xi Jinping to Washington and aims to ease economic tensions.

Both sides excluded sensitive items like rare earth minerals and AI-related technologies. The agreement also includes China’s commitment to import at least 10 million metric tons of U.S. coal annually in 2027 and 2028. Jamieson Greer, the U.S. trade representative, called the deal part of a new Board of Trade that will improve market access for 30 percent of U.S. exports to China.

President Trump, facing midterm elections, is keen to relieve pressure on farmers and reduce inflation ahead of the holiday season. China’s Ministry of Commerce stated the effort will stabilize bilateral trade and strengthen cooperation in agriculture and consumer goods. The pact extends a trade truce originally agreed in South Korea last year, following a tariff war that disrupted rare earth supplies critical to U.S. industries.