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The Economic Times

National / The Economic Times

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Trump-Xi summit yields trade breakthrough as US, China agree to cut levies

China and the United States have agreed to reduce tariffs on certain goods. This move aims to boost trade between the two nations, particularly in agriculture. Both sides will also work on other trade issues. Details are still being negotiated. This development follows a summit between leaders Xi Jinping and Donald Trump.

16 May 2026 7:49 pm