Washington, Sept 29:
The recent summit between US President Donald Trump and Chinese President Xi Jinping produced an understanding on possible tariff reductions covering about $60 billion worth of non-sensitive goods, but the broader trade agreement between the two countries remains unresolved.
There was no immediate timetable for implementing the proposed tariff reductions, while the deadline for a wider trade agreement was pushed into next year. The discussions covered agricultural and other goods, but major strategic differences between Washington and Beijing remain.
The two countries continue to differ over trade, technology, rare earth minerals, Iran and Taiwan. The latest meeting has nevertheless kept high-level communication open between the world’s two largest economies.