As a result of negotiations between the countries, China and the United States agreed on a mutual reduction of duties on certain groups of goods and the expansion of bilateral trade, in particular in the agricultural sector. Bloomberg reported this on May 16, citing the Ministry of Commerce of the People's Republic of China.
The department noted that the parties agreed on a number of measures to gradually reduce tariff barriers, but the details of the agreement are still being worked out.
In addition to reducing duties, Beijing and Washington agreed to resolve mutual claims in the field of agricultural trade. China is ready to consider the issue of American supplies of beef and poultry, while the United States has problems with the import of Chinese dairy and fish products.
The parties also agreed to create special trade and investment mechanisms for further consultations on tariff policy.
Separately, China confirmed its intentions to purchase American aircraft, but without specifying the volumes. Potential large contracts for Boeing aircraft have previously been discussed.
