U.S., China Reach Preliminary Trade and Tariff Deals Following Leaders’ Summit
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Chinese and American trade teams have reached preliminary agreements to lower tariffs, ease agricultural market access and establish ongoing trade councils, China’s Ministry of Commerce announced Saturday following a summit between Chinese president Xi Jinping and his U.S. counterpart Donald Trump in Beijing.
The commerce ministry said in a statement that the two presidents endorsed “generally balanced and positive” results negotiated by their respective teams. Xi noted that the core of the bilateral trade relationship is mutually beneficial cooperation, adding that both sides should work together to maintain the current positive momentum, according to the statement.
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