China and the US are pushing forward with negotiations for a tariff reduction agreement.

China and the United States will continue to maintain close communication on tariff issues, while also promoting the development of concrete agreements and accelerating their implementation in the near future.

China and the US are pushing forward negotiations on a tariff reduction agreement. Photo: Euronews

Speaking at a press conference on May 28, Chinese Ministry of Commerce spokesperson He Yadong said that tariffs have long been a central issue in economic and trade relations between China and the United States. According to him, under the strategic guidance of the leaders of both countries, bilateral economic and trade teams have conducted extensive exchanges and reached some relevant consensuses.

Mr. Ha A Dong stated that both sides have agreed in principle to conduct discussions within the framework of the bilateral trade mechanism to develop a framework agreement on reciprocal tariff reductions. This agreement is expected to apply to product groups of comparable scale, with a value of $30 billion or more for each side.

A spokesperson for China's Ministry of Commerce emphasized that Beijing hopes Washington will fulfill its commitments and facilitate the expansion of economic and trade cooperation between the two countries.

Chinese Foreign Minister Wang Yi. Photo: CGTN

Earlier, speaking at a meeting with representatives of the US strategic and business sectors in New York, Chinese Foreign Minister Wang Yi said that Beijing is ready to cooperate with Washington in implementing the consensuses reached by the leaders of the two countries, aiming for a stable and constructive bilateral relationship. Wang Yi emphasized that both sides need to strengthen the management of differences, expand cooperation, and promote the resolution of outstanding issues in order to maintain the stable and sustainable development of Sino-US relations.

Analysts believe that recent positive signals indicate Beijing and Washington are working to stabilize economic and trade relations amidst global economic volatility. However, progress toward a comprehensive agreement may still face challenges due to existing differences between the two sides in strategic, technological, and trade areas.

Minh Phuong

Source: Xinhua News Agency

Source: https://baothanhhoa.vn/trung-quoc-my-thuc-day-dam-phan-thoa-thuan-giam-thue-quan-289243.htm