China expects to increase coal imports from the U.S. in the coming years
Beijing expects to deepen cooperation with Washington in the coal sector and increase imports of American coal in the coming years, China's Ministry of Commerce said.
Yulduz Salimov2 min read
Beijing expects to deepen cooperation with Washington in the coal sector, including by increasing imports of American coal in the coming years. The statement was made by China's Ministry of Commerce.
According to the Chinese ministry's statement, following earlier trade and economic consultations, China and the U.S. agreed to include imports of American coal in a mutual tariff reduction framework.
"The economic and trade delegations of China and the U.S. reached a consensus that Chinese customs tariffs on coal imports from the U.S. will be included in the mutual tariff reduction framework on a $30 billion to $30 billion basis," the statement says.
The ministry stressed that this will facilitate China's imports of coal from the U.S. in 2027 and 2028.
"We hope that, through joint efforts, cooperation between China and the U.S. in the coal sector will continue to deepen, delivering mutual benefit and results that serve the interests of both sides," the ministry added.
As the ministry added, imports of American coal will be a useful supplement to China's domestic coal market, and will also provide the U.S. coal industry with stable economic revenue and jobs. According to the ministry, this will help stabilize and expand bilateral trade.
Earlier, during trade and economic consultations, China and the U.S. 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% of the corresponding goods on each side will be reduced to the level of most-favored-nation rates.
Source: news.am
