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.
Guangdong ports have seen 53.8 billion yuan in preferential imports under RCEP over the past three years, with tariff reductions totaling 1.4 billion yuan. Tariff reductions have seen significant year-on-year growth, increasing by 8.81%, 32.35%, and 32.12% in 2023, 2024, and 2025 respectively.
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.
China's ambassador to Mexico, Chen Daojiang, stated that the tariff reduction agreement between the US and China will benefit Mexico by stabilizing foreign trade, reducing supply chain costs, and creating new commercial opportunities.
China and the US have agreed to discuss reciprocal tariff reductions on goods worth at least $30 billion each, following a summit between Presidents Xi Jinping and Donald Trump. The move is seen as a positive step towards stabilizing bilateral relations and easing trade tensions.
EU negotiators reached a provisional agreement on regulations to implement tariff cuts for US industrial goods, following pressure from US President Donald Trump.
China's Ministry of Commerce announced that delegations from China and the US will discuss mutual tariff reductions on products worth at least $30 billion for each side, as agreed in principle during trade council consultations in South Korea.
China's commerce ministry announced a preliminary agreement with the US to reduce some tariffs and confirmed deals on agricultural products and aircraft purchases following President Trump's visit to Beijing.
China and the US will establish trade and investment councils to discuss tariff reductions and non-tariff barriers on agricultural goods. They also agreed on deals for aircraft purchases and engine supplies.
India and New Zealand are set to sign a Free Trade Agreement on Monday at Bharat Mandapam. The deal aims to boost bilateral trade to $5 billion, provide duty-free access for Indian exports, and facilitate workforce mobility for professionals.
