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MOC: CN, US Principally Agree to Reduce Tariffs on Products of Equivalent Scale
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Last Thursday (14th), the heads of state of China and the US met in Beijing and held in-depth discussions on economic and trade issues, further setting the tone for the development of bilateral economic and trade relations. A spokesperson for the Ministry of Commerce (MOC) said last Wednesday (13th) that China and US economic and trade teams held trade consultations in South Korea to prepare in the economic and trade field for a meeting between the two heads of state. At present, the preliminary outcomes achieved by both sides in the economic and trade field mainly cover several areas, including agreement to implement mutual tariff reductions on a certain range of products and to promote the expansion of two-way trade in areas including agricultural products. China and the US will continue to implement the outcomes of previous consultations, having reached positive consensus on relevant tariff arrangements. The two countries also agreed to establish a Trade Council and an Investment Council to discuss respective concerns in the areas of trade and investment. Through the Trade Council, both sides will discuss issues including tariff reductions on relevant products and have principally agreed to reduce tariffs on products of equivalent scale that are of concern to each side. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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