Director of the Foreign Investment Department of the Ministry of Commerce, Meng Huating, said at the press conference of the State Information Office held on the 23rd in response to questions about the establishment of the Trade Council and the progress of the Investment Council between China and the US, that at present, the economic and trade teams of China and the US are maintaining close communication on specific arrangements such as the structure, functions, and operating model of the Trade Council, and are discussing the framework arrangements for promoting equal tax cuts of 30 billion US dollars each. The Chinese side is seeking opinions from a wide range of stakeholders such as domestic enterprises, business associations, local governments, and American business associations on relevant tax reduction arrangements. The US side is also seeking public comments on trade councils and equivalent tax reduction arrangements. The two sides will maintain close exchanges, agree on specific product tax reduction arrangements and promote implementation as soon as possible, and further expand bilateral trade.

Director of the Foreign Investment Department of the Ministry of Commerce, Meng Huating, said at the press conference of the State Information Office held on the 23rd in response to questions about the establishment of the Trade Council and the progress of the Investment Council between China and the US, that at present, the economic and trade teams of China and the US are maintaining close communication on specific arrangements such as the structure, functions, and operating model of the Trade Council, and are discussing the framework arrangements for promoting equal tax cuts of 30 billion US dollars each. The Chinese side is seeking opinions from a wide range of stakeholders such as domestic enterprises, business associations, local governments, and American business associations on relevant tax reduction arrangements. The US side is also seeking public comments on trade councils and equivalent tax reduction arrangements. The two sides will maintain close exchanges, agree on specific product tax reduction arrangements and promote implementation as soon as possible, and further expand bilateral trade.