US, China discuss cutting tariffs on US LNG ahead of Xi visit
Officials are weighing broader tariff cuts on about $30 billion in goods as U.S. LNG producers seek access to China’s market again.
- Ahead of the September 24 summit, U.S. and Chinese officials are negotiating tariff cuts on American liquefied natural gas and other goods to extend the current trade truce between President Donald Trump and President Xi Jinping.
- Beijing imposed a 15% tariff on U.S. LNG in February 2025 in retaliation for Trump's duties on Chinese goods, effectively halting bilateral trade in the commodity and creating urgency for current discussions.
- On September 20, U.S. Treasury Secretary Scott Bessent, Chinese Vice-Premier He Lifeng, and American Trade Representative Jamieson Greer met in New York to finalize reciprocal tariff reductions covering about $30 billion in trade.
- During the summit, Trump and Xi reached consensus on reciprocal tariff reductions and establishing an AI dialogue, the Chinese Commerce Ministry said, signaling potential deliverables to extend the trade truce.
- Analysts expect the status quo to persist as friction remains over critical minerals and trade compliance, with U.S. officials saying China has not met broader commitments despite potential small-scale deliverables.
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78 Articles
China, U.S. reach consensus on multiple economic and trade issues: Chinese Commerce Ministry
He Yadong, a Chinese Commerce Ministry spokesman, told the media in Beijing that the two countries’ economic and trade teams recently held their eighth round of consultations in New York, reaching consensus on several issues
Bilateral discussions focus on artificial intelligence security, rare earths and agricultural purchases
In anticipation of the visit to Washington by President Xi Jinping, US Treasury Secretary Scott Bessent discussed the trade and economic relations of the two countries with the Vice-Premier of the State Council of China, Hae Lifeng. "In New York, Vice-Premier Hae Lifeng and I continue to discuss US-Chinese economic and trade relations prior to the historic meeting of US President Donald Trump and President Xi Jinping in Washington," wrote Bessen…
Ahead of a meeting between US President Donald Trump and Chinese President Xi Jinping, representatives from both countries are discussing economic and trade issues. In Washington, US Treasury Secretary Scott Bessant and Chinese Vice Premier He Lifeng held talks, discussing potential agreements on artificial intelligence.
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