Trump-Xi summit yields coal pledge as tariff talks extend
The agreement covers 77 Chinese goods and 1,619 U.S. products, with more than 90% of covered items set for most-favored-nation rates, China said.
- President Donald Trump and Chinese President Xi Jinping concluded a Washington summit this week, reaching an agreement to lower tariffs on $30 billion of goods, affecting approximately $60 billion in annual two-way trade.
- Treasury Secretary Scott Bessent announced that Washington and Beijing agreed to extend their existing trade truce by two months, facilitated by the newly operational China Board established during this week's meetings.
- China will purchase at least 10 million metric tons of American coal in 2027 and 2028, while lower duties apply to American agricultural goods, seafood, timber, and medical devices under the agreement.
- "The two leaders agreed to use the term 'super intelligence' rather than 'artificial intelligence' to describe the applicable emerging technologies," the White House said; both nations will sign a military memorandum of understanding soon.
- Despite these agreements, major disagreements regarding Taiwan and semiconductors remain unresolved; Treasury Secretary Scott Bessent confirmed four meetings between Trump and Xi are expected this year.
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77 Articles
At its summit last week Donald Trump and Xi Jinping reached a minimum consensus. The big issues have pushed the two heads of state to the long bank.
Beijing and Washington agree on what products to include in a future tariff reduction, while Chinese access to US chips remains unsolved
The White House released a list of goods from the U.S. and China that will benefit from a tariff reduction of $30 billion each, following discussions between President Donald Trump and President Xi Jinping.
The United States and China have agreed to review tariff reductions on $30 billion (approximately 42 trillion won) worth of each other's products and have disclosed the specific items subject to these measures. This follows the U.S.-China Board of Trade, which was launched during U.S. President Donald Trump's visit to China last May.
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