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AzerNEWS Staff

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The United States and China have reached an agreement on reciprocal tariff reductions covering $30 billion worth of goods in each direction, as the two countries seek to stabilize their trade and economic relations.

According to China's Foreign Ministry, the agreement was reached following talks between Chinese President Xi Jinping and US President Donald Trump during Xi's state visit to the United States.

The two leaders positively assessed the results of economic and trade consultations between the two countries and the work of relevant working groups. They also agreed to establish and develop mechanisms such as a trade council to facilitate continued engagement on trade and economic issues.

The two sides further agreed to extend the outcomes of their previous economic and trade consultations in Kuala Lumpur.

The tariff arrangements cover a range of non-sensitive goods. US exports covered by the agreement include agricultural products, fish and seafood, wood and cosmetics, while imports into the United States include Chinese-made small household appliances, toys, holiday decorations and child car seats. Reuters reported that the tariff reductions would apply to $30 billion worth of goods in each direction.

The agreement is part of a broader set of outcomes reached during Xi's visit to Washington. The Chinese Foreign Ministry said the two sides agreed to continue implementing the results of their economic and trade consultations and to strengthen mechanisms for maintaining communication and cooperation.

The agreement is aimed at maintaining stability in China-US trade and economic relations while keeping bilateral consultation mechanisms in place.