China and the U.S. Maintain Close Communication on Tariff Reductions and Trade Issues

Beijing, November 12 (Daily Kiran) : The Chinese Ministry of Commerce has announced that both China and the United States are actively engaged in discussions regarding mutual tariff reductions. Spokesperson He Yadong stated that a reciprocal tariff cut framework, valued at around $30 billion, is beneficial for stabilizing and expanding bilateral trade between the two nations. There are high expectations from the business communities in both countries regarding this arrangement.

He Yadong expressed hope that the U.S. would expedite the implementation of this framework and collaborate with China to create favorable conditions for agricultural trade. In terms of trade consultations, both nations are maintaining close communication about their respective concerns in trade and investment. An announcement regarding relevant progress is expected to be made in due course.

Regarding the issue of restrictions imposed by some European Union countries on Chinese companies’ equipment, He Yadong noted that China has taken these reports seriously and has conveyed its concerns to the respective governments. China firmly believes that 5G technology is a crucial infrastructure for the development of the global digital economy. He emphasized the need to respect market principles, technical neutrality, and international regulations in its construction and operation.

China opposes the politicization of technical issues and excessive protectionist attitudes. The ministry hopes that the concerned countries will promptly correct their erroneous practices and provide a fair, just, and non-discriminatory business environment for Chinese enterprises.