China will start collecting an additional 55% tariff on Brazil's beef shipments on October 1 after the South American country reached its annual ‌quota of 1.1 million metric tons, the commerce ministry said on Wednesday.

China and the United States said they will pursue tariff cuts on $60 billion worth ‌of goods imported from each other, including products from US corn to cosmetics, and from Chinese toys to household appliances, with some notable omissions on each side.