China’s Ministry of Commerce announced on Saturday that Beijing and Washington have struck a preliminary agreement to reduce certain tariffs, while confirming key deals on agricultural products and aircraft purchases reached during US President Donald Trump’s recent state visit to China.

The announcement came one day after Trump concluded talks with Chinese President Xi Jinping in Beijing. Notably, Trump had stated on Friday that tariffs were not discussed during his meetings with Xi.

In a statement posted on its website, China’s commerce ministry said the two sides agreed to establish both a trade council and an investment council. The trade council will focus on negotiating reciprocal tariff reductions on specific products, as well as broader cuts on various goods, including agricultural products.

Through the trade council, the two sides will discuss issues such as tariff reductions on specific products, and they have agreed in principle to lower tariffs on products of respective concern on an equivalent scale,” the ministry said.

The ministry added that the countries will promote two-way trade, including in agricultural products, through mutual tariff reductions on a range of goods. The two sides also committed to resolving or making substantial progress on non-tariff barriers and market access issues affecting certain agricultural products.

In the aviation sector, the two nations reached arrangements regarding China’s purchase of US aircraft and US guarantees for the supply of aircraft engines and related parts to China. Trump had earlier announced that China agreed to buy 200 Boeing aircraft along with General Electric engines.

Tariffs had been a major point of concern ahead of the summit. However, Trump told reporters aboard Air Force One on Friday that the issue did not come up in his discussions with Xi. “We didn’t discuss tariffs,” he said.

The developments signal an effort to stabilize bilateral economic ties. Treasury Secretary Scott Bessent noted in January that Trump and Xi may meet as many as four times this year. Their next face-to-face meeting is scheduled for September, when Xi is expected to make a state visit to the White House.

The new trade and investment councils are expected to serve as ongoing platforms to address economic frictions and expand cooperation between the world’s two largest economies. Further details on the specific products targeted for tariff relief are expected to emerge from future negotiations. (ILKHA)