China-US trade dialogue

China’s Ministry of Commerce said Beijing and Washington are maintaining close communication on implementing a reciprocal agreement to reduce tariffs. The agreement covers imports worth about $30 billion from each side, as well as trade and investment issues. Under its terms, more than 90% of the products covered will be exempt from additional tariffs once both sides complete their respective domestic legal procedures. Spokesperson He Yadong said the agreement could help stabilize and expand bilateral trade, and expressed hope that it would be implemented soon and create better conditions for agricultural trade.

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