China strengthens cooperation with US in coal sector

Beijing (ANTARA) - China’s Ministry of Commerce will deepen cooperation with the United States in the coal sector, including by increasing coal supplies from the US in the coming years.

Following consultations on trade and economy, China and the US have agreed to include coal imports from America within a framework of reciprocal tariff reductions, the ministry reported, as cited by RIA Novosti on Monday.

“The economic and trade delegations of China and the US have reached a consensus that China’s tariffs on coal imports from the US will be included in a framework of reciprocal tariff reductions based on the principle of $30 billion for $30 billion,” according to a statement from the Chinese Ministry of Commerce.

The ministry emphasised that the agreement will facilitate coal imports by China from the US in 2027 and 2028.

“We hope that through joint efforts, cooperation between China and the US in the coal sector will continue to deepen, thereby ensuring mutual benefits and outcomes that meet the interests of both parties,” the ministry added.

This move is also expected to contribute to the stabilisation and expansion of bilateral trade.

Previously, during trade and economic consultations, China and the US agreed to mutually reduce tariffs on each other’s imports with a total value of $30 billion. At the same time, tariffs on approximately 90 per cent of related goods from each party will be lowered to most-favoured-nation (MFN) tariff levels.

Chinese President Xi Jinping conducted a state visit to the United States at the invitation of US President Donald Trump from 23-25 September.