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 regarding a mutual tariff reduction plan covering goods worth USD 30 billion (approximately KRW 40 trillion).

U.S. President Donald Trump and Chinese President Xi Jinping are seen leaving the meeting venue while conversing after concluding the U.S.-China summit at Naraemaru in Busan Air Force 5th Air Mobility Wing. October 30, 2025. Photo by Yonhap News Agency

At a regular briefing on the 10th, Huang Ling, spokesperson for China's Ministry of Commerce, responded to related questions by stating, "The economic and trade teams of both sides are faithfully carrying out the shared consensus reached by the leaders of both countries at the Beijing summit." She added, "Currently, the two countries are negotiating a framework for mutual tariff reductions amounting to USD 30 billion and are promoting prompt implementation."

Earlier, China's Ministry of Commerce had stated that, following the U.S.-China summit in May, the two countries had agreed to discuss a tariff reduction plan covering USD 30 billion worth of goods.

At that time, China explained that most-favored-nation (MFN) tariff rates, or even lower tariffs, could be applied to the agreed-upon items between the two countries.

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