China and US Seek Feedback on Proposed $30 Billion Reciprocal Tariff Cuts

Chinese and U.S. economic teams are engaged in discussions regarding a proposed reciprocal framework to lower tariffs on $30 billion worth of goods from each country, according to China's Ministry of Commerce. Speaking at a State Council Information Office press conference on July 23, 2026, Meng Huating, Director-General of the ministry's Department of Foreign Investment Management, stated that China is soliciting feedback from domestic companies, local governments, and foreign business associations. Meanwhile, the U.S. side is collecting public comments on the tariff plan and a joint Trade Council. Both sides aim to agree on specific product lists and implement the arrangements as soon as possible.

A reciprocal $30 billion tariff reduction framework signals a practical attempt by Beijing and Washington to alleviate trade friction and offer greater predictability for commercial actors. By actively gathering feedback from businesses and industry groups, both sides are seeking to address tangible market demands through structured dialogue.

On July 23, 2026, officials from China's Ministry of Commerce (MOFCOM) announced that Chinese and U.S. economic teams are holding close discussions on a proposed framework for reciprocal tariff reductions involving $30 billion worth of goods from each country. Speaking at a press conference hosted by the State Council Information Office, Meng Huating, Director-General of MOFCOM's Department of Foreign Investment Management, provided an update on bilateral discussions concerning trade and investment mechanisms. According to Meng, the two sides are maintaining active communication regarding the structure, core functions, and operational framework of a joint Trade Council, alongside exploring the $30 billion reciprocal tariff reduction plan. To prepare for the proposed adjustments, China has initiated a broad consultation process. Relevant authorities are gathering opinions and suggestions on suggested tariff cuts from a range of stakeholders, including domestic enterprises, trade associations, local governments, and American business groups operating in China. At the same time, the U.S. side is gathering public comments on both the Trade Council setup and the tariff reduction framework. Meng noted that both sides plan to maintain close exchanges to finalize specific product coverage as soon as possible, with the goal of pushing for prompt implementation to facilitate and expand bilateral trade. The initiative represents a structured effort to lower trade barriers through negotiated, balanced adjustments. While the $30 billion figure represents a specific portion of overall China-U.S. trade volume, the deliberate solicitation of market feedback highlights a shared intention to incorporate direct commercial input into trade policy execution.