US, China Hold First Trade Council Meeting, Discuss Tariffs, Agricultural Trade

ISLAMABAD, Nov 14 (NNN-Anadolu) -- The US and China held their first Trade Council meeting via video conference, discussing tariffs, agricultural trade, and reciprocal tariff reductions, Beijing said Saturday, Anadolu Ajansi reported.

The meeting took place Friday under the bilateral economic and trade consultation mechanism, according to China's Commerce Ministry.

The two sides held "frank, in-depth, and constructive" discussions on implementing agreements reached during previous trade negotiations, guided by the consensus between Presidents Donald Trump and Xi Jinping, the ministry said.

Discussions covered tariffs, a reciprocal tariff reduction arrangement described as "30 billion for 30 billion", agricultural trade, and other issues of mutual concern.

Separately, the Office of the United States Trade Representative announced on social media platform X that the Trump administration is establishing a US-China board of trade to facilitate bilateral commerce in non-sensitive products.

The initiative aims to benefit American farmers, ranchers, fishermen, small businesses, manufacturers, and workers.

Washington said substantial tariffs would remain in place to counter what it described as China's unfair trading practices and protect US economic interests.

However, it said pursuing balanced trade in selected sectors could bring greater stability to bilateral economic relations.

Beijing said both countries agreed to maintain communication, address outstanding trade concerns, and expand cooperation while narrowing differences.

The talks come as Washington and Beijing seek to manage trade tensions while preserving economic engagement between the world's two largest economies.

--NNN-ANADOLU