BREAKING: Trump, Xi reach $30 BILLION tariff reduction deal after summit

The Trump administration has struck a $30 billion tariff deal with China after Xi Jinping visited the White House this past week. The details of the deal were announced by the Trump administration, which will reduce tariffs by $30 billion on "non-sensitive goods."

"Under the Board of Trade, the two countries reached consensus on recommendations for more favorable tariff treatment for $30 billion of non-sensitive goods in each direction. The Board of Trade also launched a working group focused on addressing market access barriers in the agricultural sector," a White House fact sheet said.

Included in the deal are US exports of fish, seafood, lumber, cosmetics, and medical devices and imports of consumer products such as appliances, children's toys, car seats, and holiday decorations.

Part of the deal also includes China purchasing at least 10 million metric tons of coal from the US in 2027 and 2028. During the summit, the White House fact sheet said that the two leaders "discussed fostering peace and prosperity to enhance confidence for businesses and consumers around the world" and that China and the US have " agreed to build a constructive relationship of strategic stability on the basis of respect, fairness, and reciprocity."

They discussed ongoing conflicts in Iran, North Korea, as well as Russia. China also agreed that Iran cannot be allowed to have a nuclear weapon and that tolls on international waterways are to be prohibited.

Earlier this week, Trump welcomed Xi and his wife to the White House, the first time in over a decade. The summit wrapped up on Thursday night going into Friday morning with a state dinner attended by Trump, Xi, and a slate of tech industry titans such as Elon Musk, Jensen Huang, and Sam Altman.