China and the United States have reached a consensus to reduce tariffs on $30 billion worth of products on an equal footing

Both China and the United States have reached a consensus to reduce tariffs on approximately $30 billion worth of products imported from each other on an equal basis. Approximately 90% of each country's tariffs will be lowered to the most favored nation tariff rate level, and both sides will implement tariff reduction arrangements simultaneously after fulfilling their respective domestic legal procedures. (Source: Xinhua News Agency)