U.S. and China Strike $60 Billion Low-Tariff Trade Deal Covering Foie Gras to Camels

U.S. and China reach a $60 billion low-tariff trade deal covering goods including foie gras, camels, and other agricultural products.

The United States and China have agreed to a low-tariff trade arrangement covering about $60 billion in goods, with the framework extending across a wide range of products from foie gras to camels, according to information shared by Whale Insider on X.

The reported agreement covers selected goods traded between the world’s two largest economies and represents a targeted reduction in tariffs rather than a comprehensive removal of trade barriers. The Financial Times has also reported on the arrangement, describing it as a lower-tariff regime covering roughly $60 billion of goods.

Deal Covers $60 Billion in Bilateral Trade

The framework divides the roughly $60 billion trade value between the two countries, with lower tariff treatment applying to selected goods on both sides. Reporting on the agreement indicates that the arrangement focuses on products considered less sensitive within the broader U.S.-China trade relationship.

China's list includes a wide range of U.S. products, illustrating the breadth of the tariff changes. Reported examples include chilled foie gras, rabbit hair and camels, alongside other agricultural and industrial products. The U.S. list covers a smaller number of Chinese goods, including items such as child seats, electric shavers and fishhooks.

The unusual range of products covered by the arrangement has drawn attention because the list extends well beyond major industrial and agricultural commodities.

Soybeans Remain Outside the Tariff Cuts

Despite the breadth of the agreement, not all major areas of U.S.-China agricultural trade are included. Reporting on the deal indicates that soybeans were left out of the tariff reductions, leaving a significant area of disagreement between Washington and Beijing unresolved.

Soybeans have been a recurring issue in bilateral trade negotiations because of their importance to U.S. agricultural exports to China. The exclusion means the latest tariff framework does not address the commodity within the reported $60 billion arrangement.

The agreement therefore represents a selective adjustment to trade conditions rather than a settlement covering all major goods traded between the two economies.

Broader Trade Tensions Remain

The lower-tariff framework comes alongside continued negotiations over other areas of the U.S.-China economic relationship. Reporting indicates that both countries have maintained disputes involving strategically important materials and broader market-access issues.

For now, the reported arrangement is centered on selected non-sensitive goods, with products ranging from agricultural items to manufactured goods. The treatment of excluded products, including soybeans, remains a separate issue as the two countries continue managing their wider trade relationship.

Writer: Ethan Collins
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