The United States and China are in discussions regarding a plan to reduce tariffs.
Huang Ling, a spokesperson for China's Ministry of Commerce, stated during a regular briefing on September 10 that "the economic and trade teams of both countries are earnestly implementing the agreements reached during the leaders' meeting in Beijing." She added that they are currently negotiating a reciprocal tariff reduction plan worth $30 billion.
In May, during a summit in Beijing, the U.S. and China agreed to reduce tariffs on goods worth $30 billion (approximately 45 trillion won). At that time, China indicated the possibility of applying the most-favored-nation rate or a lower rate to these goods. Since then, both countries have been working on selecting items that fall under this $30 billion category.
Notably, Chinese President Xi Jinping is scheduled to visit the United States on September 24 for a summit with President Donald Trump. Ahead of this meeting, the trade negotiation teams from both countries are expected to finalize the list of tariff reductions and announce it in conjunction with the summit.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.