China and the US reached a preliminary agreement on the reduction of tariffs and the purchase of aircraft

News2 min čitanja

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China’s Ministry of Commerce said on Saturday that Beijing and Washington had reached a preliminary agreement to reduce some tariffs, and confirmed agreements on purchases related to agriculture and the aviation industry, reached during the visit of US President Donald Trump to China.

The press release states that the two parties have agreed to establish a Trade Council and an Investment Council.

The trade council will negotiate reciprocal reductions in tariffs on certain products, as well as broader reductions in agricultural products and other items, writes Poitico.

The ministry also confirmed that the two countries have reached arrangements to purchase US aircraft and ensure the supply of engines and parts. Trump previously announced that China had agreed to buy 200 Boeing planes and General Electric engines.

Although tariffs were one of the key issues ahead of the Beijing summit, Trump told reporters he had not discussed them with Xi Jinping.

Trump and Xi could meet up to four times this year as part of efforts to stabilize US-China relations, according to US Treasury Secretary Scott Bessent.

Their next meeting is scheduled for September, when Xi pays a state visit to the White House.

(Vijesti.ba / FENA)

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