China and the United States discussed tariff cuts, agricultural trade and other issues at their first trade council meeting on Friday, China's Commerce Ministry said on Saturday, days before an expected leaders' meeting in Shenzhen next week. The ministry said the two sides held "candid, in-depth and constructive exchanges" on implementing the outcomes of earlier economic and trade talks, including a reciprocal "$30 billion-for-$30 billion" tariff-cut arrangement. It did not say whether any agreements were reached, though it added that both sides would keep using the council to address trade concerns and reduce outstanding issues.

The talks build on a September summit between Presidents Xi Jinping and Donald Trump in Washington, where the two sides proposed a $60 billion package of reciprocal tariff cuts. That package includes roughly $17 billion worth of U.S. farm goods that China imported in 2024, but it has yet to be finalised. Beijing has repeatedly urged Washington to implement the $60 billion tariff-reduction deal, calling it a prerequisite for increasing purchases of U.S. farm goods.S2

Progress on farm trade has been uneven. A Reuters analysis of customs data showed earlier this month that Chinese purchases of U.S. farm goods other than soybeans are on track to hit a seven-year low this year, despite an agreement to buy $17 billion annually through 2028. The gap underscores persistent uncertainty over the deal.S2

The White House said Trump will meet Xi on Thursday on the sidelines of the Asia-Pacific Economic Cooperation forum in Shenzhen, making the trade council talks an early step toward that leaders' meeting.S2