China and the United States are in consultations on a reciprocal tariff reduction framework arrangement, said Huang Ling, spokeswoman for the Ministry of Commerce, at a press conference in Beijing on Thursday.
China and the U.S. agreed in principle this May to discuss a reciprocal tariff reduction framework arrangement on products of equivalent scale worth 30 billion U.S. dollars or more on each side.
"Earnestly implementing the consensus reached by the two heads of state during their meeting in Beijing, the economic and trade teams of China and the United States are consulting on a reciprocal tariff reduction framework arrangement on products of equivalent scale worth 30 billion U.S. dollars on each side, aiming for implementation as soon as possible," said Huang.
In May, Chinese President Xi Jinping and visiting U.S. President Donald Trump agreed on a new vision for building constructive China-U.S. relations of strategic stability.
China, US holding consultations on 30-bln-USD reciprocal tariff reduction arrangement: commerce ministry
