Trump-Xi summit yields coal pledge as tariff talks extend
The package covers $30 billion in imports each way and adds new trade, agriculture and AI channels while extending the truce.
- President Donald Trump and Chinese President Xi Jinping concluded a Washington summit this week, reaching an agreement to lower tariffs on $30 billion of goods, affecting approximately $60 billion in annual two-way trade.
- Treasury Secretary Scott Bessent announced that Washington and Beijing agreed to extend their existing trade truce by two months, facilitated by the newly operational China Board established during this week's meetings.
- China will purchase at least 10 million metric tons of American coal in 2027 and 2028, while lower duties apply to American agricultural goods, seafood, timber, and medical devices under the agreement.
- "The two leaders agreed to use the term 'super intelligence' rather than 'artificial intelligence' to describe the applicable emerging technologies," the White House said; both nations will sign a military memorandum of understanding soon.
- Despite these agreements, major disagreements regarding Taiwan and semiconductors remain unresolved; Treasury Secretary Scott Bessent confirmed four meetings between Trump and Xi are expected this year.
125 Articles
125 Articles
China eases tariffs on U.S. farm goods, keeps soybeans out (FXI:NYSEARCA)
China is set to cut tariffs on a broad range of U.S. agricultural goods, but soybeans were excluded from the tariff-reduction list, leaving the key U.S. farm export subject to an additional 10% tariff.
US and China release reciprocal $30 billion product lists for tariff c
HONG KONG (AP) — The United States and China released Monday reciprocal lists of products worth about $30 billion each that will see tariff cuts, in a deal expected to boost bilateral trade. The details came days
China cuts tariffs on US farm goods, but keeps soybeans on the other side
In a significant move, China has announced plans to lower tariffs on a variety of US agricultural products, while keeping the 10% tariff on soybeans intact. The revised list highlights items like corn, wheat, vegetable oils, and dairy. This action comes in the wake of discussions between Chinese President Xi Jinping and US President Donald Trump.
At its summit last week Donald Trump and Xi Jinping reached a minimum consensus. The big issues have pushed the two heads of state to the long bank.
US and China detail list of products agreed under $30 billion tariff cut deal after Trump-Xi meeting – WTOP News
HONG KONG (AP) — The United States and China released Monday reciprocal lists of products worth about $30 billion that will see tariff cuts, in a deal expected to boost bilateral trade. The details came days after Chinese President Xi Jinping met with President Donald Trump in Washington in his first state visit to the...
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