US and China Coordinate $30 Billion Reciprocal Tariff Reductions

The United States and China are coordinating the implementation of reciprocal tariff reductions covering approximately $30 billion worth of goods for each country. This initiative follows a May state visit to China by Donald Trump, which led to the establishment of a board of trade and a board of investment.

Trade teams from both nations are currently finalizing the operational models for these boards and the specific list of products eligible for cuts. To determine the final framework, the Ministry of Commerce of China is consulting domestic firms, business associations, local governments, and American chambers of commerce operating within China. Simultaneously, the United States is seeking public comment on the trade board and the tariff framework.

U.S. Secretary of State Marco Rubio indicated that the operationalization of these boards could serve as a concrete deliverable before the expected visit of President Xi Jinping to the United States in September.