Chinese Inputs Unavailable in US May Get Tariff Break

Bessent had said the U.S. intended to remove tariffs on $30 billion worth of imports, such as fireworks and "very low-end consumer goods" (see 2605140009).

Greer had described the imports that could receive tariff breaks as "consumer goods, maybe low-tech items," on one Sunday show, but on ABC's "This Week," he expanded the list to "other inputs that we don’t have here," and said,

"And we’ll talk about the tariff treatment for those things. But, you know, I don’t want to get ahead of any kind of final adjustments that might be made eventually."

Greer had previously said that he would solicit comments on what products should be granted relief; if inputs that aren't available end up as part of the scope of the Board of Trade, it would be more akin to the exclusions process that was available in the Section 301 actions in the first Trump term.

China, in its statement about the outcome of the meetings between President Donald Trump and President Xi Jinping, said, "Both sides agreed to establish a Trade Council and an Investment Council to discuss their respective concerns in the areas of trade and investment. The two sides will discuss issues such as tariff reductions on relevant products through the Trade Council and have agreed in principle to reduce tariffs on products of equal size of concern to each other."

It also said, "Both sides agreed to promote the expansion of two-way trade in areas including agricultural products through arrangements such as mutual tariff reductions on a certain range of products."

The White House put out a fact sheet about the summit on May 17, which didn't mention tariffs, and which focused on promised purchases by Chinese firms and traders.

That fact sheet said:

• China approved an initial purchase of 200 American-made Boeing aircraft for Chinese airlines.
• China will purchase at least $17 billion per year of U.S. agricultural products in 2026 (prorated), 2027 and 2028, in addition to the soybean purchase commitments that it made in October 2025.
• China restored market access for U.S. beef by renewing expired listings of more than 400 U.S. beef facilities and adding new listings. China will work with U.S. regulators to lift all suspensions of U.S. beef facilities.
• China resumed imports of poultry from U.S. states determined by the USDA to be free of highly pathogenic avian influenza.

China's Commerce Ministry didn't put a number on the planes, but rather seemed to emphasize that the U.S. won't weaponize spare parts for U.S.-made aircraft engines, as it did during the trade war last year. "Both sides reached relevant arrangements on China's purchase of aircraft from the United States and the United States' guarantee of the supply of aircraft engines and parts to China," its statement said.

China weaponized its near-monopoly on rare earths and rare earth magnets during that trade war, and the U.S. fact sheet said: "China will address U.S. concerns regarding supply chain shortages related to rare earths and other critical minerals, including yttrium, scandium, neodymium, and indium. China will also address U.S. concerns regarding prohibitions or restrictions on the sale of rare earth production and processing equipment and technologies."

China's statement was silent on rare earths. It emphasized some horticultural and agricultural exports it wants to send to the U.S. with fewer sanitary/phytosanitary restrictions, such as dairy, potted plants and "aquatic products."

It closed by saying, "Both sides are still discussing the details of the outcomes. The trade teams from both sides will, in accordance with the consensus reached by the two heads of state, finalize the outcomes as soon as possible and work together to implement them, injecting more certainty and stability into future China-U.S. trade cooperation and the global economy."