China, US agree tariff cuts on $30 billion of goods

China and the United States have agreed to reduce tariffs on $30 billion worth of goods in each direction and launch a dialogue on artificial intelligence following Chinese President Xi Jinping's visit to Washington, according to Reuters.

A White House statement said the tariff reductions would cover US exports including agricultural products, wood products and cosmetics, as well as US imports including small household appliances, toys and decorations.

The White House said the two countries had reached consensus on more favourable tariff treatment for $30 billion worth of non-sensitive goods in each direction.

WAM