The negotiating teams of China and the United States are actively communicating on mutual tariff reduction on goods worth 30 billion USD, according to Chinese Ministry of Commerce spokesman He Yadong.
“At present, the trade and economic delegations of the two sides are in close contact on this issue“, he said at a weekly briefing, commenting on joint consultations aimed at eliminating tariffs on goods worth 30 billion USD.
The spokesman promised that the Ministry of Commerce would keep the public informed about the progress of the Sino-US negotiations.
In May, China's Ministry of Commerce announced for the first time that Beijing and Washington would work on tariff reductions of at least 30 billion USD for each country. The items in question are products of “mutual interest“. Such products are expected to be subject to “most-favoured-nation tariffs or even lower tariffs“.