China and the US have agreed in principle to reduce tariffs on certain goods following a recent summit in Beijing, the Chinese Ministry of Commerce announced on Saturday.
The two sides agreed to establish trade and investment councils to discuss issues such as tariff reductions and "agreed in principle to reduce tariffs on products of equal concern to each other," the ministry said in a statement.
China and the US intend to work to expand bilateral agricultural trade through "mutual tariff reductions on a certain list of goods." The specific list of these goods has not yet been specified.
In addition, the two sides will address non-tariff "barriers and market access issues" in agricultural goods, the Chinese Ministry of Commerce announced.
China and the US also reached agreements on the purchase of American aircraft and on US guarantees for the supply of aircraft engines and spare parts to Beijing, the ministry said in a statement. Saturday's announcement followed talks between US President Donald Trump and Chinese President Xi Jinping in Beijing earlier this week. Trump praised China's commitments to purchase agricultural goods and aircraft and stated that China had agreed to buy American oil following the meeting.
China's announcement on Saturday indicates that the countries are still discussing the outcome of this week's summit.
"The trade teams of both sides, in accordance with the consensus reached by the two heads of state, will finalize the outcome as soon as possible and work together to implement it," the Commerce Department said in a statement.
Trump and Xi met amid strained relations between the world's two largest economies, particularly following the bitter 2025 trade war. The countries also remain at odds over US restrictions on the export of artificial intelligence chips to China.
China has identified Taiwan as a key issue in the talks, warning that mishandling the situation could provoke a conflict with the United States.
Hours after his Friday meeting with Xi, Trump warned Taiwan against declaring independence from China in an interview with Fox News. China has long considered Taiwan part of its territory and criticized Washington for supplying arms to Taipei.