China has announced tariff cuts on a broad range of U.S. agricultural goods, excluding soybeans, following the Xi-Trump summit. This signals a potential de-escalation in the trade war, but the 10% additional tariff on soybeans remains a sticking point. A trade council will discuss reciprocal cuts on $30 billion worth of products.
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- ›Additional tariff on US soybeans: 10%
- ›Trade council discussion target: $30 billion worth of products
- ›Target this Data: Additional tariff on US soybeans – 10%
- ›Target this Nodal Body: Chinese Commerce Ministry (issued the list); White House (purchase commitment)
- ›Target this Legal Point: Trade council agreement – to discuss reciprocal tariff cut on $30 bn products
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