U.S., China reach $30 billion tariff deal after Trump-Xi summit

The U.S. and China have reached a deal to lower tariffs on $30 billion of "non-sensitive goods" as part of a trade package agreed at this week's summit between President Trump and Xi Jinping, the White House said.Why it matters: Such a deal would mark a thaw in the trade war that engulfed the two countries last year.As laid out by the White House, it would also potentially lower prices on a variety of consumer goods where American shoppers have felt the pinch of inflation. How it works: The Trump administration said China would lower its tariffs on some agricultural goods and seafood, wood pro