US, China agree to ease tariff tensions following Trump-Xi summit
US President Donald Trump and Chinese leader Xi Jinping during a meeting in Beijing (photo: Getty Images)
China and the United States agreed to mutually reduce tariffs on certain goods following a two-day summit between US President Donald Trump and Chinese leader Xi Jinping in Beijing, according to Bloomberg.
The Chinese Ministry of Commerce announced the new agreements.
Beijing said China and the United States would take steps to expand bilateral trade, particularly in the agricultural sector.
As the Chinese ministry reports, the two sides agreed to mutually reduce tariffs on certain goods, although the specific list of products and the scale of amendments have not yet been disclosed.
China said negotiations on the details are still ongoing.
Beijing also confirmed plans to purchase American aircraft, though the exact number and manufacturer have not yet been specified.
In addition, the Chinese side said it would take into account US concerns regarding imports of American agricultural products.
Earlier, the media reported that US President Donald Trump was on a state visit to Beijing. It was the first trip by a US leader to China in nearly nine years, as Trump previously visited China in November 2017 during his first presidential term.
During talks with Chinese leader Xi Jinping, the sides discussed trade issues, the wars in the Middle East and Ukraine, and the situation surrounding Taiwan.
Trump suggested the possibility of lifting sanctions on China linked to purchases of Iranian oil, an unexpected concession by the White House following the talks with Xi Jinping.
However, after the visit, the US president acknowledged that the negotiations did not produce any major breakthroughs in either trade or efforts to resolve the broader Iran crisis.
