In short:
China and the US have pledged reciprocal tariff cuts on $US60 billion worth of goods.
asserted
China → pledge → goods
Both countries say the deal will help boost trade, but experts say it remains a limited deal in the scope of bilateral trade between the US and China.
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it → say → US
Whales, surgical robots, emus and soccer balls will all face lower tariffs after China and the United States agreed to a $US60 billion ($85.5 billion) deal following US President Donald Trump's meeting with Chinese President Xi Jinping.
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China → face → Jinping
Both countries released lists of goods valued at $US30 billion each that are in line for a tariff cut, a move experts say is significant following last week's state visit in Washington.
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experts → release → Washington
There are 1,619 US goods entering China that will be eligible for lower tariffs including corn, hair and personal care products, timber and medical equipment like X-ray machines.
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that → be → machines
Live animals including whales for "pure-bred breeding", emus and dugongs are also listed, as are surgical robots.
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robots → include → breeding
Notably American soybeans, the US's largest single export to China, was not included.
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soybeans → include → China
The US listed 77 categories of Chinese goods, including fireworks, tableware, toys like dolls and puzzles, glass and wooden Christmas ornaments, soccer balls and household scales.
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US → list → dolls
Rare earth minerals and technology linked to artificial intelligence were not included on either list and continue to face significant trade restrictions on both sides.
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minerals → link → sides
China's commerce ministry said in a statement that the agreement would help strengthen trade cooperation, with tariffs on more than 90 per cent of the products to be subject to "most-favoured nation" levels.
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tariffs → say → levels
"Most-favoured nation" rates are the standard tariffs applied under World Trade Organization rules and are often in the single digits but can vary item to item.
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rates → apply → item
US Trade Representative Jamieson Greer said in a separate statement the product lists focused on "non-sensitive goods on each side that could benefit from more favourable tariff treatment".
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that → say → treatment
Mr Greer said the deal could help secure better market access in China for US farmers and businesses, while American consumers would benefit from cheaper household goods.
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consumers → say → goods
American meat, wheat, dairy, vegetables and vegetable oil are all set to receive lower Chinese tariffs.
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meat → set → tariffs
The lists could be adjusted later, both countries said, but were likely to be reviewed only on an annual basis.
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countries → adjust → basis
Neither side detailed the specific reduction that items would face, nor a timeline to implement them.
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items → detail → them
ING Bank chief economist for Greater China Lynn Song said it could be the first step in boosting bilateral trade.
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it → say → trade
Deal a 'substantive step'
Monash University economics professor Shi Heling told the ABC, "it shows China and the US have taken a substantive step toward tariff reduction, or toward cooling the trade conflict".
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China → tell → conflict
He said while the deal was worth only a fraction of the total bilateral trade between the two countries, it had benefits for both China and the US.
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it → say → China
The Chinese imports that have lower tariffs were household items and Christmas-related gifts, he said, which could help lower inflation heading into the festival shopping season.
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which → have → season
"Politically speaking, there are US midterm elections in November, and American voters are extremely sensitive to prices.
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voters → speak → prices
If inflation comes down before the midterms, that would really help Trump's administration," Professor Shi said.
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Shi → come → administration
"It's also good for China, because China imports agricultural products and medical products from the US, and if tariffs go up, ordinary Chinese people end up paying more."
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people → import → more
He said US agricultural exports were much more important than the animals listed, which he believed were there "just to pad out the numbers, to make it look better".
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it → say → numbers
He added that there was no guarantee this pact signalled a move toward a more substantial, long-term trade deal.
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pact → add → deal
While the deal is small and does not involve Australia, director of the Australia-China Relations Institute at the University of Technology Sydney, James Laurenceson said the news would be welcomed in Canberra.
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news → involve → Canberra
"For an open, trade-exposed economy like Australia, the fact that the world's two largest economies are better managing their own trade relationship is broadly a positive development," he told the ABC.
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he → expose → ABC
"There are limited exceptions to that, such as when our producers could sell goods to China while US producers were effectively locked out by high tariffs.
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producers → be → tariffs
Still, certainly in Canberra, I think the pause and modest tariffs reductions would be welcomed.
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pause → think → Canberra
"
The agreement to cut tariffs was in addition to the deal struck to extend a trade truce through until January 2027.
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agreement → cut → January
The Aporia
