China's commerce ministry announced that Beijing and Washington are actively soliciting industry feedback on potential bilateral tariff reductions through a newly established board of trade, with the US also collecting public input.
Chinese official Xie advocated for a significant expansion of the tariff-free trade list with the US, suggesting it be doubled to $60 billion or even raised to $300 billion, arguing the current exemption list is insufficient given the scale of bilateral trade.
The US and China are testing their post-summit detente through proposed trade and investment boards. Key issues like tariffs, drone security (DJI), and rare earths could challenge this stability if clarity is lacking.
The Trump administration is creating a US-China Board of Trade to manage bilateral trade in non-sensitive products, aiming for balanced and reciprocal exchanges. The USTR is seeking public comments on potential tariff modifications for goods of equal value, with a deadline of July 10, 2026.
India's Commerce and Industry Minister Piyush Goyal will lead a new Board of Trade comprising 29 prominent individuals tasked with boosting manufacturing and exports, and advising on related policies.
The US Trade Representative announces a public comment process to identify $30 billion in Chinese goods for potential tariff reductions under a new bilateral trade mechanism.
The US and China aim to establish a board of trade to manage bilateral trade in non-sensitive goods and discuss tariff reductions. To ensure effectiveness, both nations must agree on a detailed mandate and learn from past economic engagement bodies, identifying specific products for tariff adjustments while excluding sensitive sectors like critical minerals and semiconductors.
US President Donald Trump's visit to China resulted in significant deals, including 200 Boeing aircraft and the establishment of investment and trade boards. China views the visit itself as a major triumph, marking a shift towards a "constructive China-US relationship of strategic stability" where the US officially recognizes China as a peer power.
