India, Sept. 27 -- The United States and China have reached an agreement on tariffs for $30 billion worth of goods traded between the two countries, while also agreeing to establish a trade council for future economic discussions.

The new arrangement covers US exports, including agricultural products, wood and cosmetics, to China. Chinese goods such as small appliances, toys and decorations will also receive more favourable tariff treatment, according to the White House, as reported by Reuters.

This came after Chinese President Xi Jinping held a three-day visit to the US and held bilateral meets with US President Donald Trump. The visit marked Xi's first trip to Washington since 2015.

China's Ministry of Foreign Affairs said the two co...