U.S. and China Seek Public Comments on $30 Billion Reciprocal Tariff Reduction Framework
Miles Bennett
Beijing and Washington are negotiating a reciprocal tariff-reduction framework covering $30 billion on each side. China's commerce ministry has begun soliciting domestic and US-business feedback — the final product list will be the market's real test of whether this round of détente has substance.
What exactly is on the table?
Meng Huating, head of MOFCOM's foreign-investment department, confirmed on July 23 that trade teams are in close talks on the structure, mandate, and operating model of a bilateral Trade Council.
Alongside that, both sides are exploring a reciprocal tariff-cut framework worth $30 billion each.
This means → the negotiation is not just about "how much to cut" — it is about building a standing dialogue mechanism first, then filling it with specific product lists.
Who is being consulted?
China is collecting input from domestic firms, trade associations, local governments, and US-invested business groups.
The US is likewise soliciting public comment on the Trade Council and the reciprocal tariff-cut arrangement.
In plain terms = neither side has signed off yet. Both are in a "ask around, then decide" phase — the final list is still some distance away.
What should the market watch for?
Meng said both sides will finalize specific product tariff-cut arrangements as soon as possible and push for implementation to expand bilateral trade.
She explicitly noted that the finalization of the product list will be the key milestone for markets to assess real progress in this round of US-China trade easing.
This means → until that list is officially published, the current easing signals remain at the framework level — nothing has landed on specific goods yet.
Content is for reference only, not financial advice.