The US and China are considering the possibility of mutually lifting tariffs on $30 billion worth of goods.
“Elchi” reports that US Treasury Secretary Scott Bessent stated this during a hearing at the US Senate Committee on Finance.
“The Trade Council we have created will look at non-critical areas and goods where we can trade with each other tariff-free,” he said.
Bessent noted that this tariff-free trade could cover $30 billion worth of goods for both sides.
“These are $30 billion worth of products that are not in critical areas – fireworks, Halloween costumes, accessible daily necessities, meaning goods we don’t want to produce ourselves but want to buy from them. They, in turn, want to buy seafood and energy resources from us,” the minister added.