The US and China have agreed to reduce tariffs on $US30 billion of goods and to set up a trade council.
The tariff reductions would apply to US exports such as agricultural goods, wood and cosmetics, as well as US imports including small appliances, toys, decorations, a White House statement said on Friday local time.
The two sides also agreed to support each other in hosting the Asia-Pacific Economic Cooperation leaders' meeting in Shenzhen, China, in November, and the Group of 20 summit at the Trump National Doral Miami golf club in Florida in December.
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The US and China have agreed to reduce tariffs on $US30 billion of goods and to set up a trade council.
The two sides agreed to maintain a dialogue on AI, with the next round of discussions set for November.
The announcement came following President Xi Jinping's visit to Washington earlier this week.
The tariff reductions would apply to US exports such as agricultural goods, wood and cosmetics, as well as US imports including small appliances, toys, decorations, a White House statement said on Friday local time.
The two sides also agreed to set up a trade council and to sign a memorandum of understanding on strengthening crisis communications and preventing crises between the two militaries, the Chinese Foreign Ministry said.
The agreement follows a move by the world's two largest economies to extend by two months a trade truce that had been due to expire on November 10, allowing more time to work on a potentially bigger trade deal, US Treasury Secretary Scott Bessent said on Wednesday.
The two sides also agreed to support each other in hosting the Asia-Pacific Economic Cooperation leaders' meeting in Shenzhen, China, in November, and the Group of 20 summit at the Trump National Doral Miami golf club in Florida in December.
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ABC News (Business)China, US agree to AI dialogue, $42b in tariff cuts during state visitplain
The West AustralianChina and US agree to AI dialogue, tariff cutsplain
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