Trump and Xi Agree to Cut Tariffs on $30 Billion in Goods

The United States and China have agreed to mutually reduce tariffs on goods worth a total of $30 billion, following talks between President Donald Trump and Chinese leader Xi Jinping in Washington. The agreement, announced by China's foreign ministry, covers US exports of agricultural products, fish, seafood, lumber, cosmetics, and medical devices, while China will lower duties on small appliances, toys, holiday decorations, and child car seats. The leaders also approved the creation of a Trade Council and extended results of earlier consultations in Kuala Lumpur. This follows a trade conflict that began in February 2025, with tariffs peaking at 145% from the US and 125% from China before a 90-day truce in Geneva reduced them to 30% and 10%. The truce was extended to January 10, 2027. Additionally, the leaders agreed to launch an AI dialogue channel and coordinate on issues like Iran's nuclear obligations and freedom of navigation. Xi's visit was his first state trip to the US in 11 years.