China, US Agree on Tariff Cuts and Aircraft Trade Deal

(MENAFN) China and United States have agreed to reduce tariffs on selected goods of “equal scale” affecting both sides, according to a statement from China’s Ministry of Commerce.

The announcement followed the conclusion of a three-day state visit to Beijing by US President Donald Trump.

Officials said both countries agreed in principle to lower tariffs on specific product categories and to establish a Trade Council tasked with addressing key economic issues, including tariffs, investment flows, and broader bilateral trade relations.

However, the statement did not identify which goods would be covered under the tariff reductions.

The two sides also reached preliminary understandings on China’s procurement of aircraft from the US, alongside arrangements to ensure continued American supply of aircraft engines and related components to Chinese buyers.

According to reports, Trump stated that China had agreed to purchase 200 Boeing aircraft and engines from General Electric, although Beijing’s statement did not confirm those exact figures.

Both sides further agreed to encourage expansion in two-way trade, including agricultural products, through coordinated tariff adjustments and improved market access conditions.

They also committed to addressing certain non-tariff barriers affecting agricultural imports and export procedures.

The US side, in turn, is expected to work toward resolving several Chinese concerns, including restrictions affecting dairy and seafood imports, bonsai exports, and recognition of an avian influenza-free zone in Shandong.

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