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Today, the head of the Department of American and Oceanian Affairs at China’s Ministry of Commerce provided a public briefing on the outcomes of the eighth round of U.S.-China economic and trade consultations.
The rapid improvement in the China-US relationship anchored by the two heads of state, and the concrete deliveries in trade and investment, have provided a very encouraging and optimistic outlook and the strongest support to business communities in both countries.
China and the United States have reached an arrangement to reciprocally reduce tariffs on about $30 billion worth of goods from each side, with tariffs on around 90 percent of products covered to be lowered to most-favored-nation rates, the Ministry of Commerce announced on Monday.