US-China Trade: China Confirms Implementation of Prior Agreements and Purchase of 200 Boeing Aircraft
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On the 20th, the head of the Department of American and Oceanian Affairs at China's Ministry of Commerce explained the outcomes of recent US-China trade talks. This follows consultations between the two trade teams in South Korea ahead of US President Trump's visit to China from the 13th to the 15th for a meeting with President Xi Jinping. China stated that both sides will continue to implement previous agreements, push for an extension of the Kuala Lumpur joint arrangement, and that Chinese airlines will purchase 200 Boeing aircraft on commercial principles. Furthermore, they agreed to negotiate reciprocal tariff cuts on products worth $30 billion and to establish intergovernmental trade and investment councils to stabilize economic relations.