- United States , China, after the summit between Donald Trump e Xi Jinping in Washington last week, they produced a plan to reduce tariffs about for 60 billion dollars of bilateral trade on defined products “non-sensitive”.
According to the published documents from both governments, the list of please and enter the United States It includes 77 entries, including fireworks, household products, sports equipment and toys. A list of 1.619 products potentially destined to enter China, such as meat, seafood, dairy, grains, coal, lumber, and medical equipment, amounting to approximately $30 billion in imports from each country. This represents just a fraction of the $415 billion in goods traded between the world's two largest economies last year. For the United States, this means "unlocking improved market access" for about 30% of U.S. exports to China, the U.S. Trade Representative said. Jamieson Greer.
During last week's summit between the two leaders, a two-month extension of the trade truce until January 10 was signed, in an attempt to reach a broader agreement in view of the two meetings scheduled between Trump and Xi this year, the first already in November in China. However, this agreement remains unresolved the main ones disputes on Checks to exports and on Taiwan, as well as more sensitive issues such as the technology of chip ol'artificial intelligence, but even soy.
The actions of some Chinese home appliance manufacturers increased after the details of the tariff cuts were released, with joyoung which recorded a 10% jump (maximum limit) in Shenzhen and Bear Electric Appliance which gained as much as 9,5%. But the U.S. push to ban Chinese components in data centers sent the blue-chip benchmark index down more than 2%, hitting a one-year low.
Beijing said that the coal duties imported from the United States will be included in the agreement, a measure that it said would support Chinese purchases in 2027 and 2028. The White House had previously said that China had agreed to import at least 10 million tons of coal from the United States next year and again in 2028. The liquefied natural gas and Petroleum were not included in the list.
Agricultural commodity prices are falling. But soybeans are considered a political tool and are not considered.
Among the agricultural products exported and destined to benefit from a tariff reduction include key cereals such as wheat, corn and sorghum. After the agreement, the prices of futures on agricultural products, such as wheat and corn, have declined. However, one item that stands out is the absence of soy from the list, which include only the seedsSoybeans are the main agricultural product exported from the United States to China. China has already purchased a large amount of soybeans from the United States this year, but a 13% tariff has so far kept private traders on the sidelines. "Beijing is well aware that soybean purchases will have a direct impact on agricultural states of the United States, which constitute the Trump's voter base“, wrote in a note Feng Chucheng, founding partner of Hutong Research, a research firm based in Beijing. “The political significance of soybean purchases on the part of China is enormous and has important political implications." The price of soybeans, however, is also falling.
China has already surpassed halfway through its commitment to purchase at least 25 million tons of soybeans annually, following a series of recent purchases from state-owned traders. However, it has made far less progress on a second promise, made during the last Trump-Xi summit in May, to purchase an additional $17 billion in U.S. agricultural products. According to the Chinese Ministry of Commerce, a new Agriculture Working Group between the two countries will be established following the summit, with an inaugural meeting scheduled for the end of 2026. The agreements could offer some relief. relief for US farmers, that they are facing Costs high for fuel and fertilizers, aggravated by the wars in the Middle East and Ukraine. farmers, a key voting bloc for Republicans, are currently in the midst of this year's harvest and Trump has sought to maintain their support ahead of the mid-term electionsHowever, questions remain about how quickly Chinese purchases will be able to increase from now on. Attacks in the Black Sea have drastically reduced flows from a key export region and pushed up global grain prices in recent months, curbing large purchases.
Discussions on artificial intelligence, banking, and flights postponed
Regarding theartificial intelligence, both sides agreed on the establishment of a communication channel for the incident management and will hold an in-depth dialogue by the end of November. China also said it will also review and approve the institutions of foreign financial services, including those with US capital, to allow them to operate and open branches in China. Finally, the ministry stated that it will continue to communicate regarding the increase in direct flights between China and the United States.
