Business & Finance
China aims for early agreement with US on mutual tariff reductions
ABC News reports that Beijing is pushing to lower import taxes on thirty billion dollars in goods.
The short version
- China stated that it hopes to reach a prompt agreement with the United States to reduce bilateral import taxes.[ABC News]
- Commerce Ministry spokesperson Huang Ling reported that negotiators are targeting reciprocal tariff cuts covering $30 billion in goods.[ABC News]
- The diplomatic push precedes an expected meeting between President Donald Trump and leader Xi Jinping in Washington on September 24.[ABC News]
- Barclays Bank noted that an existing tariff truce expires November 10, warning that the scope for a comprehensive trade pact remains limited.[ABC News]
Key facts
- A Chinese government spokesperson stated that China and the U.S. hope to reach an agreement lowering import taxes soon.[ABC News]
- Negotiators are working to enact mutual tariff cuts on $30 billion worth of goods at an early date, according to Commerce Ministry spokesperson Huang Ling.[ABC News]
- Donald Trump and Xi Jinping are anticipated to hold face-to-face talks in Washington on September 24.[ABC News]
- Barclays Bank reported that the existing bilateral tariff truce between China and the United States expires on November 10.[ABC News]
What remains uncertain
- Whether negotiators will agree on a broader trade resolution remains unconfirmed, with Barclays Bank assessing that potential for an expansive deal is limited.[ABC News]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- China says it hopes to agree with US on tariff reductions 'at an early date'ABC News - International