China and the US hold the first meeting of the Trade Council to discuss tariffs and reciprocal tariff reduction arrangements

On November 13, China and the United States held the first meeting of the Trade Council under the China-US Economic and Trade Consultation Mechanism via video conference. Guided by the important consensus reached between the Presidents of China and the United States, both sides engaged in frank, in-depth, and constructive exchanges on implementing the outcomes of previous economic and trade consultations, discussing tariffs, the “$30 billion-for-$30 billion” reciprocal tariff reduction arrangement, agricultural product trade, and other issues of mutual concern. Both parties will continue to strengthen communication through the Trade Council, promote the resolution of respective economic and trade concerns, continuously expand the list of cooperative initiatives, reduce the list of issues, and work towards building a constructive, strategically stable China-US relationship based on respect, fairness, and reciprocity.