At a State Council press conference on Thursday, a Ministry of Commerce official said the US and China are currently working on reducing tariffs.
They said the economic and trade teams on both sides are currently in close communication around the specific structure, function, and operation of a ‘trade council’, and are looking at options to have a reciprocal reduction in tariffs of $30B each. This includes soliciting opinions from both US and Chinese businesses.
I’m generally optimistic on US-Ch...