US President Donald Trump and Chinese President Xi Jinping are expected to discuss reducing tariffs on about $30 billion worth of imported goods under a “managed trade” framework during their upcoming meeting.
Reuters reported on Wednesday, May 13, that Washington and Beijing are working toward an initial agreement on regulating trade in non-sensitive goods.
Under this plan, both sides would identify a list of around $30 billion in goods that could see reduced tariffs and easier bilateral trade, without affecting national security concerns.
The report said that the idea of creating a “Board of Trade” was first proposed in March by Jamieson Greer, the US Trade Representative, and is now being considered as one of the key topics for a high-level meeting between the two leaders.
These talks come as economic and trade relations between the United States and China have been marked by significant tensions in recent years, and any agreement could signal an effort by both sides to ease trade pressures.
