Board of Trade

The "Board of Trade" is a joint initiative established by the United States and China, agreed upon following a summit between Presidents Xi Jinping and Donald Trump. Its primary mission is to manage bilateral trade across non-sensitive goods. Currently, the organization is newsworthy as the US government, through the US Trade Representative, plans to seek public comment on which Chinese goods, initially valued at approximately US$30 billion, should be eligible for tariff reductions or eliminations. This move signifies a concrete step towards implementing the board's mandate to lower tariffs on a defined set of non-strategic items. The board's effectiveness is a current topic of discussion, with expectations from the White House to oversee trade in non-sensitive goods and input from China's Ministry of Commerce on its discussion points. The establishment of this board represents a significant development in US-China trade relations, aiming to facilitate smoother trade in specific sectors.