China, US discuss tariff reductions at first trade council meeting

China and the United States held the first meeting of their joint trade council, during which they discussed the mutual reduction of import tariffs on goods worth approximately $60 billion, with each side accounting for about $30 billion.

According to Report, citing China's Ministry of Commerce, the meeting took place via videoconference on November 13.

The two sides also discussed trade in agricultural products, the implementation of previously reached agreements, and other aspects of bilateral economic and trade cooperation.

The ministry said that Beijing and Washington would continue using the trade council as a mechanism for managing differences and expanding cooperation.