US and China agree to lower tariffs after Trump-Xi summit
Both countries agreed on more favourable tariff treatment for $30 billion of non-sensitive goods and to establish a US-China Super Intelligence Dialogue: China to import 10m metric tonnes of US coal:
The United States and China have reached an agreement on more favourable tariff treatment for $30 billion worth of non-sensitive goods in each direction following a meeting between US President Donald Trump and Chinese President Xi Jinping.
The agreement was announced by the White House after Mr Xi's state visit to Washington and his talks with Mr Trump. The two countries also agreed to establish a new dialogue on advanced artificial intelligence and other emerging technologies.
Under the trade arrangement, the two sides reached consensus on recommendations for lower or more favourable tariffs covering $30 billion of non-sensitive goods moving in each direction. US exports covered by the arrangement include agricultural products, fish and seafood, wood products, cosmetics and medical devices.
The products covered on the US import side include consumer goods such as small appliances, toys, holiday decorations and children's car seats. The agreement is aimed at improving market access and supporting trade between the world's two largest economies.
China has also agreed to import at least 10 million metric tonnes of coal from the United States in 2027 and another 10 million metric tonnes in 2028, according to the White House.
The two countries also agreed to establish a US-China Super Intelligence Dialogue. The forum will allow officials to discuss the risks and benefits linked to advanced technologies. The first further exchange is expected by November 2026, while a separate communication channel will be created to address incidents involving such technologies.
Washington and Beijing will continue discussions over supply concerns involving rare earths and other critical minerals. The White House said both sides were working towards restoring shipments to appropriate levels.
The two governments have also put their respective trade and investment boards into operation. The trade board has launched a working group to address barriers to agricultural market access, while the investment board will provide a channel for discussions on investment opportunities and related difficulties.
The latest understanding follows several years of trade tensions between Washington and Beijing, during which both countries imposed tariffs and other restrictions on each other's goods and technologies.
The White House said Trump and Xi had agreed to build a constructive relationship based on respect, fairness and reciprocity. The two leaders are also expected to meet again at international summits later this year.