The Tamesis
May 21, 2026
Beijing – The Ministry of Commerce said on Wednesday that China and the United States agreed in principle to discuss through the Trade Commission a reciprocal tariff reduction framework covering products of the same scale and with a product value of US$30 billion and above.
The Ministry of Commerce said that under the proposed arrangement, products of mutual interest agreed upon by both parties may be subject to most-favored-nation tariffs or even lower tariffs.
This consensus was reached after the latest round of China-US economic and trade consultations held in South Korea last week. The two sides agreed to promote practical cooperation and maintain the hard-won momentum of bilateral relations.
Once implemented, this arrangement will not only be conducive to stabilizing and expanding bilateral trade between China and the United States, but will also provide a useful reference for global open cooperation.
The economic and trade teams of the two countries will maintain close communication, finalize specific arrangements as soon as possible and promote implementation.
China hopes that the United States will abide by its commitments and ensure that no matter what reason or form it imposes or replaces tariffs on Chinese goods in the future, the level of additional tariffs imposed by the United States on Chinese goods will not exceed the common arrangements reached in the Kuala Lumpur economic and trade consultations.
The Ministry of Commerce also called for further elimination of relevant unilateral tariffs on Chinese goods through follow-up consultations to create favorable conditions for expanding bilateral economic and trade cooperation.
