The United States and China have agreed to mutually reduce tariffs

The United States and China have agreed to mutually reduce tariffs on certain goods following talks between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

Bloomberg reported this, citing the Chinese Ministry of Commerce.

Beijing stated that the parties also agreed to expand bilateral trade, particularly in the agricultural sector.

At the same time, the specific list of goods to which the tariff reductions will apply, as well as the scope of the changes, have not yet been disclosed, as negotiations on the details are ongoing.

China also confirmed its intention to purchase American aircraft, though without specifying the volume or manufacturer.

As a reminder, Trump arrivedin China for the first time in nearly a decade.

Donald Trump is heading to China for talks with Xi Jinping, where the parties plan to discuss trade, energy, and Taiwan, against the backdrop of a tense global situation.