United States President Trump and Chinese President Xi Jinping have reached a broad consensus on key trade issues, marking a significant step toward easing tensions between the world’s two largest economies.
The agreement, finalized during high-level talks in Beijing, addresses long-standing disputes over tariffs, market access, and intellectual property protections.
Both leaders expressed optimism that the deal would pave the way for more balanced and sustainable bilateral trade.
Under the terms of the consensus:
– Tariff Reductions: The U.S. and China agreed to gradually roll back punitive tariffs imposed during the trade war, with an initial 15% reduction on select goods set to take effect within 60 days.
– Market Access: China committed to opening its financial services and agricultural sectors further to American firms, while the U.S. pledged to ease export controls on certain high-tech products.
– IP Protections: Beijing vowed stronger enforcement against intellectual property theft, including harsher penalties for violations and improved legal recourse for U.S. companies.
President Trump hailed the deal as a “major win for American workers and farmers,” emphasizing that it would help reduce the U.S. trade deficit with China.
President Xi described the agreement as a “constructive outcome” that reflects mutual respect and shared interests.
The consensus comes after months of behind-the-scenes negotiations and follows a series of tit-for-tat tariffs that disrupted global supply chains and rattled financial markets.
While details of implementation are still being finalized, analysts say the agreement could inject stability into U.S.-China relations and boost confidence in global trade.
Both sides have scheduled follow-up talks in Washington early next year to monitor progress and address remaining concerns.
