China's Ministry of Commerce announced on Thursday that China and the United States are holding consultations regarding the structure of a mutual tariff reduction that will cover goods worth a total of $30 billion from each side.
Economic and trade groups from both countries are actively working to reach a consensus that was agreed upon by the heads of state during their meeting in Beijing. Ministry representative Huang Lin stated at a press conference that the goal of these consultations is to conclude a mutual tariff reduction agreement as soon as possible.