This audio is auto-generated. Please let us know if you have feedback.
The United States and China reached a consensus on agricultural trade and other priorities during a meeting in Beijing between U.S. and China leaders and other officials.
As part of the arrangement, President Donald Trump and China President Xi Jinping will establish the U.S.-China Board of Trade and the U.S.-China Board of Investment, according to a White House fact sheet.
The Board of Trade will enable the U.S. government and China’s government to manage bilateral trade across certain goods. The Trade Council, China’s term for the board, will discuss topics such as tariff reductions on relevant products, agreeing “in principle” to reduce tariffs on certain goods, per a statement from a spokesperson for China’s Ministry of Commerce.
Both the U.S. and China also aim to resolve some non-tariff barriers and market access issues on agricultural goods.
