US and China Run Separate Tariff Consultations With Key Details Still Unresolved
The US and China are each soliciting stakeholder input on a proposed reciprocal tariff-reduction framework covering at least $30 billion of trade, but the two processes are not synchronized and no product list beyond agriculture has been published. A new 12.5% US forced-labor duty took effect July 24, and neither government has clarified whether it will apply to goods eventually included in the reduction framework. The governance structure of the proposed Board of Trade and the legal mechanism for implementing any agreement also remain publicly unresolved.