US and China discuss tariff cuts ahead of Trump-Xi Jinping meeting
Quick Look
- The US and China are discussing the possibility of reducing tariffs on a range of goods, including US energy and agricultural products, ahead of the meeting between Donald Trump and Xi Jinping in Washington on September 24.
- US Treasury Secretary Scott Bessent will meet with Chinese Vice Premier He Lifeng to discuss economic relations.
AI-generated summary
Why It Matters
The US and China are negotiating a trade agreement, including mutual tariff cuts, ahead of the meeting between Donald Trump and Xi Jinping in Washington.
The US and China are discussing the possibility of reducing tariffs on a number of goods, including US energy and agricultural products.
Chinese President Xi Jinping will arrive in Washington on September 24 to meet with American leader Donald Trump.
US Treasury Secretary Scott Bessent will meet with Chinese Vice Premier He Lifeng to discuss economic relations between the two countries.
WASHINGTON, September 16 – RIA Novosti. The United States and China, on the eve of a meeting between American leader Donald Trump and Chinese President Xi Jinping, are discussing the possibility of reducing duties on a number of goods, including American energy and agricultural products, Bloomberg reports, citing sources.
Xi Jinping will arrive in Washington on September 24. Prior to this, Trump and a delegation of American business representatives visited Beijing in May.
“The prospects for extending the trade truce between the United States and China are becoming more certain, the parties are discussing reducing duties on goods, including American energy and agricultural products,” the agency reports.
It is expected that these measures will be implemented in accordance with the previously developed plan for mutual reduction of duties in the amount of about $30 billion.
As follows from the material, US Treasury Secretary Scott Bessent will meet with Vice Premier of the State Council of the People's Republic of China He Lifeng over the weekend.
What to Watch
AI outlook — possibilities, not facts
The tariff reduction agreement will be officially announced after the meeting between Trump and Xi Jinping on September 24
Likely · Within days
The meeting between Bessent and He Lifeng will take place the weekend before September 24
Very likely · Within days
Open Questions
- Which products will be included in the list of duty reductions?
- When exactly will the new duty rates be introduced?
- What controls will be in place to ensure compliance with the agreement?
