China, US in talks on $30bn reciprocal tariff reduction arrangement: commerce ministry

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China and the United States are holding consultations on a reciprocal tariff reduction framework arrangement that would cover $30 billion worth of products from each side, China's Ministry of Commerce said on Thursday.

Economic and trade teams from both countries are earnestly carrying out the consensus reached by the two heads of state during their meeting in Beijing. The aim of the consultations is to reach a reciprocal tariff reduction arrangement at the earliest possible date, ministry spokesperson Huang Ling told a press conference.