China and US Seek Industry Views on $30 Billion Tariff Cuts

Beijing and Washington are asking businesses to weigh in on potential tariff reductions worth $30 billion, under a newly established trade board. China’s commerce ministry confirmed that both sides are gathering feedback from domestic and foreign companies. “The Chinese side is widely soliciting views from stakeholders – including domestic firms, business associations, local governments as well as American firms and business associations – on relevant tariff reduction arrangements,” said Meng Huating, director of the Ministry of Commerce’s Department of Foreign Affairs. The move marks a step toward easing trade tensions. The feedback will help shape possible cuts, though no final decisions have been announced.