US-China Economic and Trade Talks | Li Chenggang: US and China Reach Preliminary Consensus on Some Issues

China and the United States held economic and trade consultations in Paris, France, on Sunday and Monday (the 15th and 16th). After the meetings, Chinese Ministry of Commerce International Trade Negotiation Representative and Vice Minister Li Chenggang stated that over the past day and a half, both teams engaged in frank, in-depth, and constructive discussions, reaching preliminary consensus on some issues. The two sides will continue the consultation process moving forward.

Li Chenggang said that the topics discussed between China and the U.S. included the level of bilateral tariffs under new circumstances, arrangements related to bilateral tariffs and associated non-tariff measures, and the possible further extension of these measures. The U.S. side introduced adjustments to the latest U.S. tariff measures and considerations for the next steps, while China expressed concerns over the resulting uncertainties. Both sides agreed to work together to maintain stability in bilateral economic and trade relations and discussed ideas for establishing a working mechanism to promote bilateral trade and investment cooperation.

Regarding the U.S. measures restricting trade and investment with China, especially the recent initiation of two Section 301 investigations involving China, Li Chenggang said that China conducted serious negotiations during the consultations and expressed strong concerns.

Li Chenggang pointed out, “We oppose such unilateral investigations. We are worried about the possible outcomes of these investigations and the potential disruption and damage they could cause to the hard-won stability of China-U.S. economic and trade relations.” He added that China is closely monitoring the progress of these investigations and will take appropriate measures to safeguard China’s legitimate interests when necessary. “We hope the U.S. will honor its commitments, work with China in good faith, and jointly promote the steady and long-term development of China-U.S. economic and trade relations.”

Li Chenggang stated that during these consultations, China and the U.S. further agreed that a stable economic and trade relationship is beneficial to both countries and advantageous to the world.