From Foreign Policy · Alexandra Sharp · · 1m 50s
U.S. and China Slash Tariffs on $60B of Goods
U.S. and China agree to cut tariffs on $60 billion of goods, excluding soybeans, as talks continue over Taiwan and arms sales.
In brief
U.S. and China agree to cut tariffs on $60 billion of goods, excluding soybeans, as talks continue over Taiwan and arms sales. Soybeans remain excluded from tariff cuts despite being a key U.S. export to China. Originally reported by Foreign Policy.
Tariff Cuts Announced
U.S. and China agreed to slash tariffs on $60 billion of goods, including toys and cosmetics.
Soybeans Excluded
Soybeans, a key U.S. export to China, were not included in the tariff cuts.
Trade War Context
U.S. duties on Chinese goods reached 145 percent last year, prompting the cuts.
U.S. Export Impact
The cuts will improve market access for 30 percent of U.S. exports to China, including agricultural goods.
Taiwan Talks Stalled
Discussions on Taiwan stalled during U.S.-China talks, with Xi urging Trump to oppose Taiwan’s independence.
Arms Sales Offer
Trump asked Xi if China would buy weapons from the U.S., a move that could upset decades of U.S. policy toward Taiwan.
U.S. Law Prohibits Sales
U.S. law prohibits arms sales to China, with no current offer or plan to sell weapons.
Soybean Negotiation Deadline
U.S. and China have three more months to resolve soybean trade issues, with the truce extending to January 10.
Taiwan Policy Concerns
Experts warn that selling weapons to China could expose advanced technology to a geopolitical adversary.
Failed Terrorist Attack
British police arrested five men suspected of preparing a terrorist attack on a Royal Air Force base.
Spain Housing Crisis
Protests in Spain over housing shortages, with 87-year-old woman evicted after rent hike.
National Rally Victory
France’s far-right National Rally party gained 14 Senate seats, quadrupling its representation.
Starbucks Challenge
A Chicago native visited 20,563 Starbucks locations across 74 countries, costing $180,000.
The takeaway
Soybeans remain excluded from tariff cuts despite being a key U.S. export to China.
