China and the US will discuss mutual tariff cuts of at least 30 billion USD within the framework of a bilateral trade council, China's Ministry of Commerce announced.
“The two sides reached an agreement in principle to discuss a framework agreement for mutual tariff cuts on equivalent volumes of goods within the framework of the trade council, with the scale of tariff cuts for each side amounting to 30 billion USD or more“, the ministry said in a statement, citing Xinhua News Agency.
The working groups will coordinate closely, agree on specific details and accelerate the implementation of the outlined agreements.