China and the United States have agreed to establish trade and investment councils, committing in principle to match each other’s tariff cuts on a reciprocal basis.
“The two sides will use the Trade Council as a forum to discuss issues such as tariff reductions on specific products,” China’s Ministry of Commerce said in a statement on Saturday, without providing further details.
The world’s two largest economies also made progress on agricultural trade and aircraft, the statement added.
The two…
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