US, China seeking to lower tariffs on US$30 billion worth of goods each

China has confirmed it will purchase 200 aircraft from US company Boeing. An agreement was reached last week when US President Donald Trump met his Chinese counterpart Xi Jinping in Beijing. China's Commerce Ministry said both sides will seek reciprocal tariff cuts covering at least US$30 billion worth of each other's goods. Beijing has emphasised that US tariffs on China must not exceed the level set under an arrangement reached last year. However, US Treasury Secretary Scott Bessent said the Trump administration was "not in a rush" to extend the tariff and critical minerals trade truce with China. Mr Xi is expected to travel to Washington to meet Mr Trump at the White House in September. Kate Fisher reports from Washington DC.