China, US hold first Trade Council meeting

Beijing, Nov 14.- China and the United States held their first Trade Council meeting under the economic consultation mechanism between the two nations, official sources reported.

The Commerce Ministry stated that the meeting took place via videoconference on Friday and was guided by the consensus reached during the summit between the presidents of both countries.

The institution noted that the parties held a frank, in-depth, and constructive exchange on implementing the outcomes of previous economic and trade consultations.

The talks covered tariffs, an agreement on the reciprocal reduction of taxes amounting to 30 billion dollars for each side, trade in agricultural products, and other matters of mutual interest.

Both sides agreed to maintain communication through the Trade Council to address their respective economic concerns.

They also expressed willingness to expand cooperation and narrow differences to build a stable strategic relationship based on respect, fairness, and reciprocity.

China and the United States have extended the suspension of tariff and non-tariff measures until January 10, 2027. (Prensa Latina) (Photo: People’s Daily)