The White House announced that China has agreed to import at least 10 million tons of coal from the United States each year over the next two years.

Based on a White House statement, the two sides are also pursuing preferential tariffs for $30 billion worth of “non-sensitive” goods from both countries, within the framework of the newly activated U.S.-China business council.

The statement says U.S. agricultural products, seafood, timber, cosmetics, and medical equipment are covered by these preferential tariffs. On China’s side, small household appliances, toys, seasonal decorations, and children’s car seats are included in the agreement.

The two countries formed a working group to address barriers to market access in the agricultural sector and set up a delegation to review investment opportunities. According to the same statement, the two sides will continue working on the United States’ concerns about shortages of rare earth elements and other critical minerals in the supply chain.