WASHINGTON, June 11. /TASS/. The leaderships of the United States and China intend to increase the volume of American exports to China, US President Donald Trump announced.

"President XI and I are going to work closely together to open up China to American Trade. This would be a great win for both countries!!!," Trump wrote on the Truth Social network.

Earlier, the US President announced that the US and China have almost reached a trade agreement, which must be approved by the heads of the two states. According to the agreements, US customs duties on goods from China will be 55%, and Chinese tariffs on American products will be 10%. The United States is maintaining the basic tariff rate of 10% on Chinese goods, duties of 20% for Beijing's alleged insufficient efforts to combat fentanyl smuggling to the United States, and levies of 25%, which were introduced before 2025.

On Wednesday, the Chinese Ministry of Commerce reported that Washington and Beijing had made progress in negotiations in London in resolving trade and economic issues. The parties agreed on measures to implement the consensus reached by the heads of state in a telephone conversation on June 5, as well as to consolidate the results of the May talks in Geneva, the ministry reported.

Trade and economic consultations between China and the United States were held in London on June 9-10. The Chinese side was represented at the negotiations by Vice Premier of the People's Republic of China He Lifeng. The American delegation included Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US representative in trade negotiations Jamieson Greer. The mechanism for trade and economic consultations between China and the United States was created following talks in Geneva on May 10-11. At that meeting, Washington and Beijing agreed to partially reduce mutual duties, which had exceeded 100% by May.