China and US Hold First Trade Council Meeting: Tariffs, $30 Billion Reciprocal Tariff Cuts and Farm Trade Discussed
China's Ministry of Commerce said on Saturday, November 14, that China and the United States held the first meeting of their trade council under the bilateral economic and trade consultation mechanism via video link on Friday, November 13. Guided by the important consensus reached by the two heads of state, the two sides discussed implementing the outcomes of earlier trade consultations.
According to the ministry, the two sides held candid, in-depth and constructive discussions on tariffs, a reciprocal tariff-reduction arrangement involving $30 billion on each side, agricultural trade and other issues of respective concern.
The ministry said both sides will continue to use the trade council to strengthen communication, work to address each other's trade concerns, expand the list of cooperation and shorten the list of problems, in support of a constructive strategic stable relationship based on respect, fairness and reciprocity. The statement did not publish a list of specific outcomes from the first meeting.
The trade council is one of the communication channels under the China-US economic and trade consultation mechanism, and this was its first meeting. Further scheduling is to be announced by the two sides. (Source: Ministry of Commerce of China)
Source: Ministry of Commerce of China
Published by GSM · USA (original Chinese edition)
Photo: 图：美国商务部总部 Herbert C. Hoover 大楼，位于华盛顿。Carol M. Highsmith 摄，公共领域，经 Wikimedia Commons。 / Photo: The Herbert C. Hoover Building, headquarters of the U.S. Department of Commerce in Washington. By Carol M. Highsmith, public domain, via Wikimedia Commons.
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