China, US agree to reduce levies on unspecified products to boost trade
Business Standard
Image: Business Standard
China and the US agreed to lower levies on some products to promote bilateral trade, according to a statement from China’s Commerce Ministry. The ministry issued the statement on Saturday following a two-day summit in Beijing between US President Donald Trump and Chinese leader Xi Jinping. China said Beijing and Washington will adopt a series of measures, including mutually cutting levies on certain products, to expand bilateral trade in areas including agriculture, the minister said. It didn’t provide more specifics, adding that both teams are still currently negotiating over the details. The statement confirmed China’s plan to purchase US planes, although it didn’t provide a number or the brand. China also said it would actively address US concerns on agricultural imports from the US. Trump had suggested that tariffs didn’t come up in his meetings with Xi. “We didn’t discuss tariffs,” Trump told reporters Friday aboard Air Force One. “They’re paying substantial tariffs, but we didn’t discuss.”
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