China Says Beijing and Washington Have Tentative Agreement To Lower Tariffs

China and the U.S. have reached a tentative agreement to lower tariffs and ease non-tariff barriers during recent high-level talks and a summit in Beijing, a spokesperson for the Chinese Ministry of Commerce said in a statement on Saturday. The world’s two largest economies reached “certain results” after economic and trade talks in South Korea on May 13 and during the summit between President Donald Trump and his Chinese counterpart, Xi Jinping. The two countries agreed to lower levies on some products to promote bilateral trade, China’s Commerce Ministry said. The summit marked the most significant face-to-face engagement between the…