China, U.S. discuss tariff cuts ahead of Trump-Xi meeting next week

Résumé détaillé

China and the United States discussed tariff reductions and agricultural trade during their first trade council meeting on Friday, as both countries seek progress on a proposed…

Investing.com -- China and the United States discussed tariff reductions and agricultural trade during their first trade council meeting on Friday, as both countries seek progress on a proposed $60 billion tariff-cutting agreement ahead of talks between Presidents Donald Trump and Xi Jinping.

China's Commerce Ministry said Saturday that officials from both countries held discussions covering the implementation of previous economic and trade agreements, including reciprocal tariff reductions and agricultural purchases.

The negotiations included a proposed arrangement under which each country would implement approximately $30 billion in tariff cuts, forming part of a broader effort to ease trade tensions between the world's two largest economies.

Beijing described the discussions as constructive but did not indicate whether either side had reached new agreements.

The ministry said both governments would continue using the trade council to address outstanding disputes, strengthen economic cooperation and implement commitments from earlier negotiations.

The latest discussions follow a September summit in Washington, where Trump and Xi proposed a combined $60 billion package of reciprocal tariff reductions.

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That proposal included approximately $17 billion in U.S. agricultural products imported by China in 2024, but the broader agreement remains unfinished.

Chinese purchases of American farm products excluding soybeans are heading toward their lowest annual level in seven years, according to an analysis of customs figures released earlier this month.

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