China seeks reduction in US tariffs before Trump-Xi summit

China and the United States are expected to reach a tariff agreement involving reductions in import taxes soon, ahead of a highly anticipated summit between President Donald Trump and Chinese leader Xi Jinping in September.

China and the United States are expected to reach a tariff agreement involving reductions in import taxes soon, ahead of a highly anticipated summit between President Donald Trump and Chinese leader Xi Jinping in September.

According to Commerce Ministry spokesperson Huang Ling, negotiators are trying to implement tariff reductions on $30 billion worth of goods immediately.

She did not reveal the exact timeline for the agreement that Ling said China hoped to reach with Washington. The announcement comes amid widespread expectations that the leaders of both countries could meet within two weeks.

US President Donald Trump and Chinese leader Xi Jinping are scheduled to hold their third face-to-face summit in the past year in Washington on September 24.

Officials from both nations describe the upcoming meeting as an effort to stabilise bilateral ties amid intense strategic competition between the world’s two largest economies.

Chinese Foreign Ministry spokesperson Guo Jiakun said Thursday, “The leaders’ diplomacy plays an irreplaceable strategic guiding role in China-U.S. relations.”

Both leaders met in Beijing last May, and they agreed to launch a US-China Board of Trade aimed at managing trade between the two nations, along with a parallel Board of Investment.

“Trade will be front and centre at the summit,” Barclays Bank said in a research note on the upcoming Trump-Xi meeting.

However, the truce on tariff hikes is set to expire on November 10. Analysts say the prospects of reaching broad trade deals are limited, while targeted tariff reductions are more likely.