Meng Huating, director of the commerce ministry's foreign investment administration department, said at a July 23 press conference that Chinese and U.S. trade teams are in close communication on the structure, functions and operating model of a trade council, and are discussing a framework for reciprocal tariff reductions of $30 billion each. China is soliciting feedback from domestic firms, business associations, local governments and U.S.-invested enterprises on the proposed tariff cuts, while the U.S. is also seeking public comments on the trade council and reciprocal tariff arrangement. Both sides will maintain close exchanges to finalize product-specific tariff reduction plans and implement them as soon as possible to further expand bilateral trade.