The Ministry of Commerce of China File photo: VCG

The Chinese and US economic and trade teams are earnestly implementing the consensus reached at the Beijing meeting between the two heads of state, and are in consultations on a framework arrangement for reciprocal tariff reductions covering $30 billion, with a view to bringing it into effect at an early date, Huang Ling, a spokesperson with China's Ministry of Commerce, said at a regular press conference on Thursday.