China, US solicit opinions on tariff cut measures: commerce ministry
Chinese and US trade officials are currently negotiating a reciprocal tariff reduction framework, with both sides proposing cuts worth $30 billion. The countries are soliciting public and stakeholder feedback to finalize the structure of a new trade council.
Why it matters
This represents a potential de-escalation in trade tensions between the world's two largest economies, which could impact global supply chains.
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The Chinese and US economic and trade teams are discussing a reciprocal tariff reduction framework, with each side planning tariff cuts worth $30 billion, Meng Huating, an official of China's Ministry of Commerce, said on Thursday.
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