China and US Agree to Set Up Trade Councils After Tariff War

China and the United States have agreed to establish trade and investment councils as both countries seek to stabilise economic ties following last year’s tariff war, according to China’s commerce ministry.

The China US trade councils agreement will include discussions covering reciprocal tariff reductions on selected products and wider trade cooperation.

Beijing said the two sides made progress on agricultural trade and aircraft purchases, including reductions in non-tariff barriers on selected farm goods and expanded two-way agricultural trade through mutual tariff cuts.

China also confirmed arrangements for purchases of US aircraft, while Washington agreed to ensure supplies of jet engines and components.

US President Donald Trump previously said China had agreed to buy at least 200 Boeing aircraft and potentially up to 750 under certain conditions.

The developments signal renewed efforts by both governments to stabilise trade relations and reduce supply-chain uncertainty for global manufacturers and exporters.