After two days of talks in Kuala Lumpur, the Chinese mainland delegation and the U.S. delegation announced basic consensuses on arrangements to address key trade concerns. The meeting, held from Saturday to Sunday, marked a concerted effort to translate high-level phone conversations earlier this year into concrete action.
Deep Dive Into the Talks
Guided by important agreements between the two heads of state, negotiators held candid, in-depth exchanges on issues including:
- U.S. Section 301 measures on maritime, logistics and shipbuilding sectors
- Extension of the suspension of reciprocal tariffs
- Fentanyl-related tariff and law enforcement cooperation
- Trade in agricultural products and export controls
Voices from the Table
“The essence of China-U.S. economic and trade relations is mutual benefit and win-win results,” said Chinese mainland Vice Premier He Lifeng. “We gain from cooperation and lose from confrontation.”
The U.S. side described the bilateral economic relationship as “the most influential in the world,” expressing a spirit of equality and respect to properly address differences and deepen cooperation.
Why It Matters
With two of the world’s largest economies aligning on core trade concerns, businesses can plan with greater certainty and markets may see renewed confidence. Sustained dialogue underlines a shared goal: stable, sustainable growth that benefits both peoples and contributes to global prosperity.
Next Steps
Both sides agreed to work out specific details, follow their respective domestic approval processes and maintain close communication through existing consultation mechanisms. This ongoing engagement aims to safeguard recent gains, manage differences and elevate economic and trade relations to a higher level.
Reference(s):
China and U.S. reach basic consensuses to address trade concerns
cgtn.com
