Published on: 2026-05-20
Source: People’s Republic of China in Russian language –
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Beijing, May 20 /Xinhua/ — China and the USA have reached a principal agreement to discuss within the framework of the trade council a framework agreement on mutual tariff reductions on goods equivalent to a volume of no less than 30 billion dollars. The US side, for each of the parties, announced on Wednesday the Ministry of Commerce of the PRC.
Commenting on the preliminary results of the recently held Chinese-American trade and economic consultations, an official representative of the Ministry of Commerce stated that with respect to goods representing mutual interest and agreed upon by both parties, tariff rates under the most-favored-nation regime or even lower rates will be applied.
According to an official representative, after the agreement comes into force, it will not only contribute to the stabilization and expansion of bilateral trade between China and the USA, but will also become a useful example for global open cooperation.
He added that the trade and economic groups on both sides will maintain close ties, work out concrete mechanisms, and apply efforts for the fastest possible implementation of the agreement.
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