U.S.–China hold first Trade Council meeting 🇺🇸🇨🇳
The Office of the U.S. Trade Representative (USTR) and the U.S. Treasury Department held their first meeting with Chinese counterparts under the bilateral Trade Council on Nov. 13, ahead of the Trump–Xi meeting in Shenzhen on Nov. 18–19 on the sidelines of APEC.
The two sides discussed implementing the reciprocal tariff reduction framework of “$30 billion for $30 billion”: each side will lower tariffs on about $30 billion worth of imports from the other after completing domestic legal procedures; more than 90% of the covered goods will be fully exempt from additional tariffs and receive most-favored-nation tariff rates. China said it had fully implemented the consensus reached in eight rounds of consultations.
The Council’s agricultural working group is expected to hold its first meeting before the end of 2026.
$BTC #trade #uschina
The Office of the U.S. Trade Representative (USTR) and the U.S. Treasury Department held their first meeting with Chinese counterparts under the bilateral Trade Council on Nov. 13, ahead of the Trump–Xi meeting in Shenzhen on Nov. 18–19 on the sidelines of APEC.
The two sides discussed implementing the reciprocal tariff reduction framework of “$30 billion for $30 billion”: each side will lower tariffs on about $30 billion worth of imports from the other after completing domestic legal procedures; more than 90% of the covered goods will be fully exempt from additional tariffs and receive most-favored-nation tariff rates. China said it had fully implemented the consensus reached in eight rounds of consultations.
The Council’s agricultural working group is expected to hold its first meeting before the end of 2026.
$BTC #trade #uschina
