China, US agree on tariff cuts, Beijing confirms aircraft deal
China's Commerce Ministry said Beijing and Washington agreed to establish a Trade Council to discuss tariff reductions and confirmed arrangements for Chinese procurement of US aircraft, as the two sides committed to reciprocal tariff cuts on products of equal scale following President Donald Trump's state visit.
China's Ministry of Commerce announced on Saturday that Beijing and Washington have agreed to reduce tariffs on products of "equal scale" affecting both nations and confirmed specific arrangements for Chinese procurement of American aircraft and engines, according to state media reports from Beijing.
Trade Council Establishment
A spokesperson for the ministry said the two sides will establish a Trade Council to discuss tariff reductions, investments, and bilateral trade issues. "The two sides will discuss issues including tariff reductions on relevant products through the Trade Council," the spokesperson said.
Aircraft Procurement Confirmed
The spokesperson added that both parties reached relevant arrangements regarding China's procurement of aircraft from the US, as well as Washington ensuring supply of aircraft engines and components to Beijing. US President Donald Trump announced during his three-day state visit — which concluded Friday — that China agreed to purchase 200 Boeing aircraft and General Electric engines.
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Agricultural Trade Expansion
The ministry said both countries agreed to promote expansion of two-way trade in agricultural products through arrangements such as mutual tariff reductions on products within a certain scope. The agreements were finalized as Trump concluded his state visit to China on Friday.
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