China, US discuss tariffs, farm trade ahead of Xi-Trump meeting

China and the United States held their first trade council meeting on Friday ahead of the expected leaders' meeting in Shenzhen next week, discussing tariff cuts, agricultural trade, and other issues, according to China's commerce ministry. The two sides engaged in "candid, in-depth and constructive exchanges" on implementing previous China-US economic and trade talks outcomes, including tariffs, a reciprocal US$30 billion-for-US$30 billion tariff-cut arrangement, agricultural trade, and other mutual concerns.

While the ministry did not disclose whether any agreements were reached, both sides pledged to continue using the council to address trade concerns, expand cooperation, and reduce outstanding issues. The recent September summit between Presidents Xi Jinping and Donald Trump in Washington proposed a US$60 billion package of reciprocal tariff cuts, including approximately US$17 billion worth of US farm goods imported by China in 2024.

However, the deal remains unfinalized, with Chinese purchases of US farm goods, excluding soybeans, projected to reach a seven-year low this year despite the agreement. Beijing has consistently urged Washington to implement the tariff-reduction deal as a prerequisite for increasing US farm goods purchases.

Brief written by urgent.news from Free Malaysia Today's own syndicated text. Machine-written — may contain errors; check the original before relying on it.