China Says in Talks with U.S. on $30 Billion Mutual Tariff Reductions, Seeks Swift Implementation

Discussions Initiated Following the U.S.-China Summit in May

China has announced that it is in discussions with the United States on a plan to mutually reduce tariffs on goods worth 30 billion dollars (approximately 40 trillion won).

U.S. President Donald Trump and Chinese President Xi Jinping are seen leaving the meeting venue after concluding the U.S.-China summit at Naraemaru within Busan Air Force 5th Air Mobility Wing, engaging in conversation. 2025.10.30 Yonhap News Photo by Yonhap

Huang Ling, spokesperson for China's Ministry of Commerce, said at a regular briefing on the 10th that "the economic and trade teams from both sides are faithfully implementing the consensus reached at the summit meeting between the leaders of the two countries in Beijing," adding, "Currently, we are negotiating a framework for the mutual reduction of tariffs worth 30 billion dollars, and are working to implement it as soon as possible."

Previously, China's Ministry of Commerce stated that after the U.S.-China summit held last May, the two sides agreed to discuss a plan for reducing tariffs worth 30 billion dollars.

At that time, China explained that the items agreed upon by both countries may be subject to the most-favored-nation tariff rate or potentially an even lower rate.

This content was produced with the assistance of AI translation services.