MOFCOM’s North America and Americas Department head said after the eighth round
of China-U.S. economic and trade consultations that both sides agreed to
reciprocally lower tariffs on roughly $30 bln of imports from each other. About
90% of the affected products on each side will see tariffs reduced to MFN rates.
The tariff cuts will be implemented simultaneously after each party completes
required domestic legal procedures; further details will be announced later.
