BEIJING, China: Tariffs on products ranging from American agricultural goods to Chinese household appliances are set to fall under a new trade agreement between China and the United States covering US$60 billion worth of goods.

The two countries have each recommended $30 billion in non-sensitive goods for more favorable tariff treatment under the U.S.-China Board of Trade, U.S. Trade Representative Jamieson Greer said on September 27.

For the United States, the agreement would mean "unlocking improved market access" for about 30 percent of its exports to China, Greer said.

The tariff reductions and an extension of the countries' trade truce were among the main outcomes of last week's summit in Washington between Chinese President Xi Jinping and U.S. President Donald Trump, their second meeting this year.

A White House list showed that China planned to lower tariffs on U.S. agricultural products including corn, wheat, sorghum, meat, dairy products and vegetable oils and meals. Soybeans were excluded. Beijing will also look to reduce duties on U.S. fish and seafood, wood products, cosmetics and medical devices.

Washington's list covered Chinese goods including coffee makers, toasters, tableware, blankets, bed linens, toys, fireworks, artificial flowers, holiday decorations and children's car seats.

China's commerce ministry said on September 28 that a two-month extension of the trade truce through January 10 would give both sides time to assess their arrangements for resolving economic and trade issues. It would also provide a "relatively stable and predictable policy environment" for business cooperation and further discussions, the ministry said.

The two countries will hold regular talks on investment opportunities, trade barriers and concerns raised by businesses.

The agreement also provides for an agriculture working group, which will meet before the end of the year to discuss market access and regulation. China's selection of goods for tariff reductions appears aimed at helping it meet what the White House describes as a $17 billion commitment to purchase agricultural products. China has already resumed large-scale purchases of U.S. soybeans under an earlier agreement to buy 25 million metric tons annually.

The White House said China also agreed to import 10 million metric tons of U.S. coal annually in 2027 and 2028. Liquefied natural gas and oil were not included.

"Importing US coal is not only a beneficial supplement to China's domestic coal market, but also brings stable economic income and employment to the US coal industry," China's commerce ministry said.

The countries also agreed to establish a communication channel for artificial intelligence incidents and hold a follow-up dialogue by the end of November.

China will examine and approve applications from foreign financial services institutions, including U.S.-funded firms, to operate and open branches in the country. The two sides will also continue discussions on increasing flights between China and the United States.