China and the United States aim for early tariff cuts ahead of summit
Chinese officials said both sides hope to reach a quick agreement on lowering tariffs on $30 billion of goods before the leaders meet.
China's Commerce Ministry spokesperson announced that negotiators are pursuing reciprocal tariff reductions on $30 billion worth of goods "at an early date," though no further details were provided. The statement coincides with the scheduled meeting of President Donald Trump and President Xi Jinping in Washington, their third face-to-face encounter this year. Chinese Foreign Ministry spokesperson emphasized the strategic importance of leaders' diplomacy in managing the bilateral relationship.
In May, the two leaders agreed to establish a U.S.-China Board of Trade and a parallel Board of Investment to oversee trade matters. The current focus is on identifying and lowering tariffs on equivalent volumes of non-sensitive products, a key component of the board's agenda. Analysts note that the existing tariff truce expires on Nov. 10, making timely reductions critical.
