China, U.S. in talks to cut tariffs on $30 billion of goods early, China's Commerce Ministry says
MacroGeopolitics
Huang Ling, a spokesperson for China's Commerce Ministry, said at a press briefing on the 10th that the United States and China are advancing talks on a framework to cut tariffs on $30 billion worth of goods on each side, adding that they aim to implement it as soon as possible. Stabilizing trade is expected to be one of the main topics at a U.S.-China summit anticipated on the 24th. The two leaders met in Beijing in May and agreed to create a new "trade committee" to manage goods with low national security concerns, with U.S. energy and medical equipment and Chinese consumer goods among the candidates, according to reports. Reuters reported that about 10 sectors are under consideration, but differences remain over which goods would be covered.
