Rancher Curtis Schroeder, 57, and his son Derek lead a heifer into a transport truck on May 9, 2026, at the Schroeder family ranch in Walsh, Colorado.
Mark Makela | Getty Images News | Getty Images
BEIJING – The United States and China plan to reduce tariffs on $30 billion worth of products from each country, according to announcements by both governments on Monday.
The detailed list includes imports of toys, sporting goods and Christmas decorations, primarily from the United States, but U.S. agricultural products make up the bulk of a much longer list of imports from China.
The United States is seeking to reduce its record trade deficit with China, as the Asian country exports far more to the United States than it imports. The US trade deficit with China exceeded $202 billion last year.
“If tariff reductions actually take effect before the holiday season, they could provide a welcome boost to U.S. consumption and retailers,” WPIC CEO Jacob Cook said.
Cook’s company primarily helps sell U.S. brands in China, but the Chinese government’s import list includes fast-growing categories such as hair care and packaged pet food, where he said Chinese brands are highly competitive against U.S. products. “Every percentage point counts in maintaining price competitiveness and profit margins.”
However, it was not immediately clear when the tariff cuts would take effect or by how much they would be reduced. Last year, the United States and China imposed effective import tariffs on each other of more than 40% and more than 30%.
The two countries reached a one-year ceasefire last fall, limiting further tariff increases. U.S. Treasury Secretary Scott Bessent said last week that negotiators had agreed to extend the ceasefire into January.
Monday’s announcement followed a summit between U.S. President Donald Trump and Chinese President Xi Jinping in Washington, D.C., last week. Both sides said the much-anticipated U.S.-China “trade committee” would be made up of officials from both governments and would meet at least once a quarter, with top officials meeting “whenever necessary.”
Lower tariffs could significantly boost trade, especially for competitive Chinese companies. Ryan Chao, director of home goods retailer Jiangsu Green Willow Textiles, expects sales to increase 30% year-on-year in the second half of this year once the tariff cuts are implemented.
Below is a select list of products that you can benefit from.
US imports of Chinese products (total items: 77)
firework
plate, cup, bowl, plate
Tableware/kitchen supplies
beads
Blankets (including electric blankets), rugs
bed linen
table linen
curtain
garden umbrella
artificial flowers
shaver
flashlight
microwave oven
Christmas tree lamps and ornaments
high chair
children’s playground
sleeping bag
pillow
Toys (including tricycles, but not those that connect to WiFi or Bluetooth)
billiard balls, chalk, table
playing cards
Rackets for games other than “turf tennis/badminton”
Soccer balls, baseball balls, softballs, lawn tennis balls
fishing hook and fishing line
artist’s brush
thermos
China’s imports of U.S. products (total items: 1,619)
Horses, donkeys, cows, pigs, sheep, goats, breeding chickens
Other livestock
bee
frozen pork
frozen lamb
Frozen, fresh or chilled whole chicken or turkey
frozen chicken feet
Rabbit meat without the rabbit head
Dried beef, smoked beef, salted beef
live freshwater ornamental fish
raw or chilled tuna
frozen atlantic salmon
buttermilk
roasted peanuts
peanut butter
tomato juice
Ice cream and other frozen products
fresh apples
whiskey
soybean for seeds
soybean flour and meal
—CNBC’s Matthew Tan contributed to this report.
