US President Donald Trump, right, shakes hands with Chinese President Xi Jinping at the Great Hall of the People in Beijing in May.
US President Donald Trump, right, shakes hands with Chinese President Xi Jinping at the Great Hall of the People in Beijing in May.

The United States and China are holding follow-up negotiations to finalize a plan to cut tariffs on $30 billion worth of goods from each country, the Chinese government said. The agreement was reached during their leaders' summit in Beijing in May.

"The China-US economic and trade teams are faithfully implementing the agreement reached by the two heads of state at their Beijing summit," Chinese Commerce Ministry spokesperson Huang Ling said at a regular briefing Thursday. "We are currently in talks on a plan for reciprocal tariff cuts covering $30 billion in goods." Huang added that both sides are pushing for swift implementation.

Earlier, China's Commerce Ministry said the two countries agreed during the May summit to each select at least $30 billion worth of goods of interest to the other side. They also agreed to discuss lowering tariffs on those goods.

At the time, China said the goods covered by the agreement could be subject to most-favored-nation rates or even lower tariffs.


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