Beijing, May 17: The spokesperson for the Chinese Ministry of Commerce addressed reporters on May 16 regarding the ongoing trade discussions between China and the United States.
The spokesperson revealed that the presidents of both nations met in Beijing on May 14 to engage in in-depth discussions about economic and trade issues. During this meeting, Chinese President Xi Jinping emphasized that the fundamental principle of China-U.S. economic relations is mutual benefit and win-win cooperation. Economic teams from both countries achieved balanced and positive outcomes, which is good news for the people of both nations and the world. Both sides must work diligently to maintain the positive momentum gained.
Additionally, the spokesperson noted that economic and trade teams from China and the U.S. held talks in South Korea on May 13, reaching active consensus. Firstly, both parties agreed to effectively implement the results from previous discussions. They established positive agreements regarding tariff arrangements.
Secondly, both sides consented to form a trade council and an investment council to address concerns related to trade and investment.
Thirdly, they will work to resolve non-tariff barriers and market access issues concerning certain agricultural products or significantly promote them.
Fourthly, both parties agreed to enhance bilateral trade in specific sectors, including agriculture, through mutual tariff exemptions on certain products.
Lastly, they finalized agreements regarding China’s purchase of aircraft from the U.S. and the supply of aircraft engines and parts to China, committing to continue enhancing cooperation in related fields.
The spokesperson further stated that discussions on the details of the achievements are ongoing between both sides. Economic and trade teams will implement the agreements made between the presidents to bring more certainty and stability to China-U.S. economic cooperation and the global economy.
(Source: China Media Group, Beijing)
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