China and US discuss tariff cuts and agricultural trade at first trade council meeting

China and the United States held the first meeting of their trade council by video on November 13, opening another channel for managing disputes over tariffs and farm trade. China's Commerce Ministry said the discussion focused on implementing earlier economic and trade consultations, including a reciprocal US$30 billion-for-US$30 billion tariff-cut arrangement. The announcement described talks, not a new completed agreement or an immediate removal of all disputed duties.

The ministry's November 14 statement said officials discussed tariffs, agricultural trade and other matters of mutual concern. It described the exchange as candid, in-depth and constructive, but did not say a final deal had been reached. Both sides intend to continue using the council to address trade concerns and expand cooperation. Keeping that limitation clear is important for firms deciding whether a proposed concession has become an operational rule.

An implementation process, separate from the tariff truce

At the leaders' September meeting in Washington, the two countries proposed a US$60 billion package of reciprocal tariff reductions. The package remained unfinished ahead of the council discussion. It included roughly US$17 billion worth of US farm goods imported by China in 2024. Those figures refer to the scope and reference value of proposed trade arrangements, not a fresh US$60 billion cash transfer or agricultural purchases already completed this month.

The council's work is distinct from the recently extended suspension of some additional Chinese tariffs and related restrictions. A temporary suspension can prevent an immediate escalation while officials negotiate a more detailed arrangement, but it does not settle which products will receive lasting relief or when firms can rely on it. Agricultural exporters and importers still need product-specific rules, confirmed rates and clear implementation dates before changing commercial plans.

A leaders meeting is expected, not an agreed outcome

The White House said President Donald Trump would meet President Xi Jinping on Thursday at the Asia-Pacific Economic Cooperation gathering in Shenzhen. November 19 is the Thursday in question. The expected meeting gives the trade talks a diplomatic deadline, but the council statement itself offers no guarantee of a new settlement there. The practical test will be whether continued communication produces published, usable trade terms, rather than whether the latest exchange is described positively.