The United States and China have identified roughly $60 billion in two-way trade for potentially lower tariffs, with toys, household goods and Christmas decorations among the Chinese products on Washington's list and a wide range of American agricultural products among those selected by Beijing.
Under the new White House "30-for-30" framework, each country approved a product list representing roughly $30 billion in annual trade. The values were calculated using bilateral trade figures from 2024, according to the framework's official terms of reference. The document makes clear that the tariff reductions themselves will be determined and implemented through each country's domestic legal procedures.
