BEIJING, May 16 — China and the United States have agreed to move forward with implementing all previously reached agreements and to establish new trade and investment councils, according to China’s top diplomat.
BEIJING, May 16 — China and the United States have agreed to move forward with implementing all previously reached agreements and to establish new trade and investment councils, according to China’s top diplomat.
The announcement followed a two-day summit in Beijing between Chinese President Xi Jinping and US President Donald Trump, during which the two leaders discussed key issues ranging from trade to developments in the Middle East.
Trump described the outcome as “fantastic trade deals” and said China would increase purchases of American soybeans and aircraft, although neither side has released official details.
Following Trump’s visit, Xi accepted an invitation to travel to the United States this autumn.
Chinese Foreign Minister Wang Yi said both sides had achieved positive results, including the decision to set up trade and investment councils.
US Treasury Secretary Scott Bessent also confirmed that discussions are underway to create bilateral trade and investment boards.
The two countries further agreed to address concerns over agricultural market access and to expand two-way trade under a framework of reciprocal tariff reductions.
China and the US are currently observing a one-year trade truce reached in October, under which both nations sharply reduced tariffs that had previously exceeded 100 per cent on each other’s goods. — AFP
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