China and the United States are engaged in ongoing consultations to establish a reciprocal tariff reduction framework affecting $30 billion worth of goods from each country, China’s Ministry of Commerce announced on Thursday.

The discussions follow a consensus reached between the leaders of both nations during their recent meeting in Beijing. According to ministry spokesperson Huang Ling, economic and trade teams from China and the United States are actively working to finalize the arrangement as soon as possible.

These negotiations are part of broader efforts to ease trade tensions and promote bilateral economic cooperation. The prospective framework aims to reduce tariffs on a specified list of products, facilitating smoother trade flows between the two largest economies in the world.

Details regarding the specific products included in the tariff reduction and the timeline for implementation have not been disclosed. Both sides have expressed intent to conclude the agreement promptly, reflecting a mutual interest in stabilizing trade relations.

The consultations underscore ongoing diplomatic and economic engagement amid complex trade dynamics between the two countries. Further updates are expected as negotiations progress.