Chinese President Xi Jinping shakes hands with President Donald Trump at the start of a summit in April. Photo: Reuters, Carlos Barria
Photo: Reuters / Carlos Barria

The US and China have agreed to first steps as part of a 100-day trade action plan announced during Presidents Trump and Xi’s first meeting last month, reports Reuters.

China will issue guidelines to allow US credit card issuers to begin the licensing process in China by July 16th, which will mark the 100th day since the talks began in April. The country’s card payment market has been closed to US providers until now, and China’s UnionPay system has an effective monopoly over card services.

Beijing will also open its borders to imports of US beef by no later than the July 16 deadline, while Chinese cooked poulty will be allowed into the US.