The US and China Trade Council held its first official meeting

The U.S. Trade Representative's office and the Treasury Department held the first official meeting of the U.S.-China Trade Board with Chinese counterparts, addressing tariffs, reciprocal reduction arrangements worth $30 billion, and agricultural trade. The session marks the formal launch of the board, a mechanism meant to manage the world's largest bilateral commercial relationship. The $30 billion in reciprocal reductions signals both sides are weighing scaled-back tariff measures rather than a broad rollback. Agricultural trade was also on the agenda, a sector that has historically been central to U.S.-China negotiations. What to watch next is whether the talks produce concrete tariff adjustments and follow-up meetings that keep the channel active.