China said it planned to trim duties on a variety of U.S. agricultural goods, while the U.S. plans tariff cuts on toys, small appliances and other items.
China and the United States have agreed to cut tariffs imposed on $60 billion worth of goods imported from each other, on an array of products ranging from U.S. corn to cosmetics, and from Chinese household appliances to toys.
Under the U.S.-China Board of Trade, both countries have each recommended $30 billion of trade in non-sensitive goods for more favourable tariff treatment, United States Trade Representative Jamieson Greer said in a statement on Sunday.
For the United States, that was “unlocking improved market access” for about 30% of U.S. exports to China, he said.



Why would the US have crashed hard if not for China?
Oil markets. China stopped importing almost half of their ten million per day oil usage by using their vast stocks.
https://www.investing.com/news/stock-market-news/china-maintains-reduced-oil-imports-despite-iran-war-pressures-93CH-4912360
This is propping up the oil markets and kept the worst of price instability in check.