China, US Move Towards Early Implementation Of Tariff Reduction Pact
China has said its recently agreed tariff framework with the United States will be implemented soon, with both sides maintaining close communication to finalise operational arrangements.
A spokesperson for China’s Ministry of Commerce said the two countries are working to translate the agreement into action at the earliest, while expressing hope that the US will honour its commitments and support stronger bilateral economic cooperation.
Under the preliminary framework, both nations have agreed in principle to pursue reciprocal tariff reductions on products valued at more than US$ 30 billion on each side.
Chinese officials indicated that the identified products are expected to receive most-favoured-nation tariff treatment or lower duty rates, easing trade barriers between the world’s two largest economies.
The proposed tariff easing is expected to support trade stability, improve market confidence and create a more predictable environment for global supply chains.
For global manufacturing sectors, including textiles, the agreement could help improve raw material flows and reduce uncertainty in international trade.
