U.S. and China agree to cut tariffs on $30 billion of goods

The United States and China agreed to lower tariffs on $30 billion of goods traded in each direction, according to a White House fact sheet issued after Chinese President Xi Jinping's state visit. China will lower tariffs on some farm goods, seafood, wood products, cosmetics and medical devices. The U.S. will cut tariffs on small appliances, toys, holiday decorations and children's car seats. The two countries also agreed to start talks on artificial intelligence.