China and the United States held their first trade council meeting by video on Friday, November 13, China’s commerce ministry said Saturday, according to Reuters and Bloomberg. The council sits under the countries’ bilateral economic and trade consultation mechanism, with tariffs and agricultural trade on its opening agenda. Source Source
The discussions focused on implementing outcomes from earlier trade consultations. Reuters, reporting the ministry’s account, said they included a reciprocal tariff-reduction arrangement involving $30 billion on each side. Bloomberg described it as a “30 billion for 30 billion” arrangement. Neither report says the meeting produced a newly concluded tariff deal. Source Source
Neither report supplies the tariff fine print: what the $30 billion measures, which goods the arrangement covers, the tariff rates involved or when reductions would take effect. They also provide no specific farm-purchase commitment. Source Source
Neither report includes a separate US government readout. China’s commerce ministry called the exchanges “candid, in-depth and constructive discussions” and said both sides would continue using the council to address trade concerns, expand cooperation and reduce outstanding issues. Source Source
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