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News in English (USA) / 17.05.2026 / 00:00

China and US Reach Preliminary Agreement to Reduce Tariffs and Establish Trade Councils

In recent discussions following the Trump-Xi summit, China and the United States have agreed to mutually reduce tariffs on select goods, signaling a potential thaw in trade relations. The agreement, described as preliminary, aims to lower levies significantly from 145% to 30% over the next 90 days, alongside advancements in agricultural market access. Both nations have also committed to the establishment of trade and investment councils to further facilitate economic cooperation. Despite these positive developments, skepticism remains among US lawmakers regarding the implementation of planned trade boards. China confirmed its commitment to uphold existing trade agreements while Washington seeks to repair the damages caused by the tariff war. The outcomes of these negotiations, including a significant Boeing deal, are seen as steps towards revitalizing the agricultural trade. As both countries navigate their economic partnership, expectations for immediate results remain cautious.
Reuters, Bloomberg.com, Politico, Investing.com, Al Jazeera, South China Morning Post, Global Times, Semafor, The Economic Times, Fox News