US-China agree to cut tariffs on $60B in goods, easing trade tensions

China and the US have agreed to reduce tariffs on $60 billion worth of goods, covering Chinese household items and American agricultural products, coal, and medical equipment. Most products will be exempt from additional tariffs, with about 90% receiving most-favored-nation treatment. This marks a significant de-escalation in the trade war, though implementation details and timing remain unclear.