China–US Trade Council Holds First Meeting, Discusses Tariffs and Agricultural Trade
China’s Ministry of Commerce said on November 14 that the China–US Trade Council held its first online meeting on November 13 to discuss tariffs, reciprocal tariff reductions and agricultural trade. The two sides plan to keep addressing trade issues through the council. A previously proposed $60 billion reciprocal tariff reduction plan has yet to be finalized.
China’s Ministry of Commerce said on November 14 that China and the United States held the Trade Council’s first meeting online on November 13. The meeting was part of the China–US economic and trade consultation mechanism. The two sides exchanged views on tariffs, reciprocal tariff reductions under a “$30 billion for $30 billion” proposal, agricultural trade and other issues of concern to each side.
A cargo port in Qingdao, Shandong Province, China.（VietVance）
China’s Ministry of Commerce said the two sides intend to strengthen communication through the Trade Council, work to resolve economic and trade issues of concern to each side, expand areas of cooperation and shorten the list of outstanding issues. The proposed tariff reductions remain under discussion, and the meeting statement did not announce a new agreement.
The meeting took place ahead of an Asia-Pacific Economic Cooperation summit planned for next week in Shenzhen, China. The China–US talks thus came before the next stage of high-level contact between the two countries.
After Chinese President Xi Jinping and US President Donald Trump met in Washington this September, the two sides proposed reciprocal tariff reductions worth a total of $60 billion. The proposal covers about $17 billion in US agricultural products imported by China in 2024, but has yet to be finalized. Beijing has repeatedly urged Washington to implement the agreement, treating it as a prerequisite for increased purchases of US agricultural products.
Source: VietVance
