China's Ministry of Commerce (MOFCOM) detailed eight preliminary outcomes from recent economic and trade consultations with the US, covering tariffs, agricultural trade, rare earth export controls and aircraft purchases, reports Beijing's Global Times.

The consultations followed US President Donald Trump's state visit to China from May 13 to 15 and preparatory talks in South Korea. MOFCOM said both sides reaffirmed commitments to previous agreements and will extend joint arrangements reached in Kuala Lumpur in October 2025, which suspended certain tariff and non-tariff measures until November 2026.

On tariffs, MOFCOM said the US must not exceed agreed levels under the Kuala Lumpur framework. Both sides agreed in principle to reciprocal tariff reductions starting at $30 billion each, with Most-Favoured-Nation rates or lower applying to mutually agreed products. Officials said this would stabilise bilateral trade and provide a reference for global cooperation.

Agricultural trade was a key focus. The US agreed to lift automatic detention on Chinese dairy, aquatic products and bonsai exports, recognise Shandong Province as free of avian influenza, and expedite removal of Chinese firms from import alert lists. China resumed registration of US beef suppliers, lifted restrictions on qualified states, and reopened poultry imports.

On rare earths, both sides discussed export controls and agreed to study each other's concerns. China said it regulates exports in line with laws and is willing to cooperate with the US to safeguard global supply chains.

Aviation was also highlighted. China confirmed plans to import 200 Boeing aircraft under commercial principles, while the US will guarantee supply of engines and parts. MOFCOM said aviation is a key area for deepening mutually beneficial cooperation.

Officials stressed that continued communication between economic teams will be essential to finalising arrangements and ensuring stable expectations for bilateral trade.