China-U.S. tr2026-09-28 01:03:46China and U.S. agree to set up trade council under consultation mechanismChainCatcher reported that an official from the Department of American and Oceanian Affairs under China’s Ministry of Commerce interpreted the outcome of the eighth round of China-U.S. economic and trade consultations. According to the official, the two sides agreed to establish a China-U.S. Trade Council under the bilateral economic and trade consultation mechanism. Its main task will be to optimize bilateral trade. The two countries’ economic and trade teams have also reached consensus on the council’s mandate, structure, responsibilities, and consultation arrangements. Further details will be announced later. The update was published as a 7x24 newsflash by ChainCatcher.20
Ministry of C2026-07-23 07:44:00China commerce ministry says Beijing and Washington are seeking feedback on tariff-cut planChina’s Ministry of Commerce said on July 23 that Chinese and U.S. economic and trade teams are in close communication over the structure, functions and operating model of a proposed trade council, while also discussing a reciprocal tariff-reduction framework covering $30 billion on each side. The update was delivered by Meng Huating, director-general of the ministry’s Department of Foreign Investment Administration, during a State Council Information Office press briefing in response to a question about progress on the planned trade and investment councils. Meng said China is broadly soliciting views on the proposed tariff-cut arrangements from domestic companies, business associations, local governments, and chambers of commerce representing U.S.-funded firms. The U.S. side is also seeking public comments on the trade council and reciprocal tariff-reduction arrangements. According to the statement, both sides will stay in close contact, work to settle tariff-cut plans for specific products as soon as possible, and push for implementation to expand bilateral trade.310
