Beijing: China and the United States have held their first meeting under a newly established bilateral Board of Trade, discussing tariff reductions, agricultural trade and the implementation of agreements reached during earlier negotiations. The meeting took place through a video conference on Friday, November 13, with China's Ministry of Commerce announcing the development on Saturday. The discussions form part of efforts by the world's two largest economies to address trade differences and improve economic cooperation.
According to China's Ministry of Commerce, the two sides held frank, detailed and constructive discussions on implementing the outcomes of previous trade consultations. They also discussed a reciprocal tariff reduction arrangement covering approximately $30 billion worth of imported products on each side. More than 90 per cent of the products covered are expected to receive exemptions from additional tariffs imposed by the other country and most favoured nation tariff treatment. However, the reductions remain subject to domestic legal procedures in both countries and are expected to take effect simultaneously after the necessary procedures are completed.
Agricultural trade and other outstanding trade concerns were also included in the discussions. Both countries agreed to continue using the Board of Trade to address their concerns, expand cooperation and resolve outstanding issues. The meeting marks the beginning of the council's formal work following an agreement between US President Donald Trump and Chinese President Xi Jinping during Trump's visit to Beijing in May 2026. The two leaders agreed to establish the Board of Trade as a mechanism for managing bilateral trade issues involving products not considered sensitive. They also agreed to establish a separate Board of Investment to address investment issues.
The latest discussions follow an agreement reached during the eighth round of China US economic and trade consultations in September. The two countries agreed on a reciprocal tariff reduction framework covering approximately $30 billion worth of goods imported by each side. The arrangement, described as a 30 for 30 framework, includes selected products such as agricultural goods, personal care products, medical devices and coal from the United States, as well as toys, home appliances, baby products and kitchen and bathroom products from China.
The September agreement also established an Agricultural Working Group under the Board of Trade to address issues involving market access and regulations affecting agricultural products. The two countries agreed to hold its first meeting before the end of 2026. The trade discussions also come amid continuing adjustments to tariffs imposed by both countries. On November 9, China announced that it would extend the suspension of additional tariffs of 24 per cent on US goods for another two months, beginning November 10. However, the additional 10 per cent tariff remained in place.
Agricultural trade remains an important issue in the wider negotiations, particularly China's commitments to purchase American farm products. Under an agreement announced by the White House in May, China committed to purchasing at least $17 billion worth of US agricultural products annually in 2026, 2027 and 2028. The target for 2026 was to be adjusted on a prorated basis. These purchases were additional to a separate commitment concerning US soybean imports.
However, the implementation of these commitments has attracted attention because purchases of several American agricultural products have remained relatively low. An analysis of trade data found that China purchased approximately $7.2 billion worth of US agricultural products other than soybeans between January and September 2026. The imports, which included meat and corn, were at their lowest level for the same period since 2019.
China was on track to meet its separate soybean purchase target. However, imports of other US agricultural products remained relatively low. On November 5, China's Ministry of Commerce said Beijing was willing to expand purchases of American agricultural products but linked further cooperation to the implementation of the reciprocal tariff reduction arrangement.
China also called on Washington to reduce tariffs, address trade barriers other than tariffs and improve market access for agricultural products.
The United States has also raised concerns about the implementation of previous commitments. On November 6, US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent held a video conference with Chinese Vice Premier He Lifeng. Greer stressed the importance of China taking concrete steps to fulfil its previous commitments, particularly those involving agricultural purchases and critical minerals. The US administration said it would continue monitoring China's implementation of the agreements.
China's Ministry of Commerce spokesperson He Yadong said on November 13 that the two countries were maintaining close communication over the reciprocal tariff arrangement. He expressed hope that Washington would work with Beijing to implement the agreement at an early date and improve conditions for agricultural trade between the countries. The establishment of the Board of Trade provides a formal channel for both governments to address trade disagreements. However, the latest meeting shows that important differences over tariffs, agricultural purchases and market access remain unresolved.
The timing of the reciprocal tariff reductions and the fulfilment of agricultural purchase commitments remain important issues for both countries as they continue negotiations to improve bilateral trade relations.