China plans to deepen cooperation with the United States in the coal sector by increasing supplies of American coal

Beijing plans to deepen cooperation with Washington in the coal sector, including by increasing supplies of American coal in the coming years, the Chinese Ministry of Commerce said.

As follows from the statement of the Chinese department, following the results of earlier trade and economic consultations, China and the United States agreed to include the import of American coal within the framework of mutual tariff reductions.

"The economic and trade delegations of China and the United States have reached a consensus that China's customs tariffs on coal imports from the United States will be included in the framework of mutual tariff reductions on a $30 billion by $30 billion basis," the statement said.

The department emphasized that this will contribute to China’s imports of coal from the United States in 2027 and 2028.

"We hope that through joint efforts, cooperation between China and the United States in the coal sector will continue to deepen, ensuring mutual benefits and results that meet the interests of both sides," the ministry added.

Imports of American coal, as the department added, will be a useful addition to the domestic coal market in China, and will also provide the US coal industry with stable economic income and jobs, which will help stabilize and expand bilateral trade.

Earlier, during trade and economic consultations, China and the United States agreed to mutually reduce tariffs on imports of each other's goods worth a total of $30 billion. At the same time, tariffs on approximately 90% of the relevant goods on each side will be reduced to the level of most favored nation rates.