China and the United States are actively seeking public input on a proposed reciprocal tariff reduction framework valued at $30 billion each, according to Meng Huating, Director-General of the Department of Foreign Investment Administration at China's Ministry of Commerce. The announcement was made during a press conference held by the State Council Information Office on July 23. Both nations are in close communication regarding the establishment of trade and investment councils, focusing on the structure, functions, and operating model. The Chinese government is gathering feedback from domestic enterprises, business associations, local governments, and U.S.-invested enterprise associations. Similarly, the U.S. is soliciting public comments on the trade council and tariff reduction proposals. The goal is to finalize specific product tariff reductions and implement them promptly to enhance bilateral trade.