US-China Trade Board to Manage Bilateral Trade, Consider Tariff Modifications
Hızlı Bakış
- The US Trade Representative's office announced a new US-China Board of Trade to manage bilateral trade, potentially considering tariff modifications on non-sensitive goods.
- The board aims to facilitate trade between the two largest economies.
Yapay zekâ özeti
“They agreed to 200 aeroplanes during the visit. We will see if they commit to a larger number when Xi Jinping arrives in Washington,” Bessent said in his budget request testimony to the Senate Finance Committee.
Bessent’s statement comes a day after the US Trade Representative’s office announced a public comment process regarding the newly created US-China Board of Trade – a mechanism to manage bilateral trade between the world’s two biggest economies.
“The United States and China will consider tariff modifications on imports of an equal value of non-sensitive goods from each side, while monitoring and evaluating outcomes over time,” the USTR said in a statement.
During the hearing, Bessent explained how the board would function, hinted at potential target industries, and claimed the selected items would be “tariff free”.
