THE BRIEFING

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US AND CHINA ANNOUNCE US $ 60BN TARIFF CUTS ON TRADED GOODS

The US and China have agreed to cut tariffs on US $ 60bn worth of goods, covering items like US produce, cosmetics and Chinese electronics and toys. US Trade Representative Jamieson Greer says the deal will allow for“ fair, balanced and reciprocal trade” between the two nations. This follows an agreement to extend the US-China tariff war ceasefire by two months to 10 January 2027. The US calls this a“ compliance period” to see if China is capable of fulfilling its part of the deal, noting the country’ s supply chain commitments and rare earth elements, of which China has achieved two-thirds of in its initial pledge. Since President Trump returned to office in 2025, two-way trade fell 25 % to US $ 495bn, while the US trade deficit with China dropped approximately 40 %.

How much the US trade deficit with China fell by

Since President Trump returned to office in 2025, two-way trade fell 25 % to

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