China and the United States reach preliminary consensus on several issues
Paris — Chinese and US teams have conducted deep and constructive consultations to reach a preliminary consensus on several issues, and have agreed to continue the consultation process, according to a senior Chinese official in Paris on Monday (16 March), as reported by Xinhua.
Topics discussed by both parties covered bilateral tariff rates in the new situation, the potential for further extension of bilateral tariff arrangements and relevant non-tariff measures, said Li Chenggang, China’s international trade representative at the Ministry of Commerce and deputy minister of commerce, at a press conference following a new round of China-US economic and trade negotiations.
The US side provided a brief explanation to the Chinese side regarding its latest tariff measure adjustments and considerations regarding next steps, whilst the Chinese side conveyed concerns over the uncertainty arising from such measures, Li explained. He noted that both sides agreed to strengthen cooperation to maintain the stability of bilateral economic and trade relations and discussed the formation of a cooperation mechanism to promote bilateral trade and investment.
Regarding restrictive measures imposed by the US against Chinese trade and investment, particularly two recent Section 301 investigations involving China, Li stated that China lodged strong protests and expressed serious concerns during the consultations.
Li conveyed that China opposes such unilateral investigations and is concerned that their potential results could undermine and damage the stability of China-US economic and trade relations that has been achieved with great difficulty.
Li said China will carefully monitor the progress of these investigations and take appropriate measures at the right time to protect its legitimate rights and interests.
Li added that China hopes the US can honour its commitments and cooperate with China to achieve the same objectives in promoting the development of stable and sustainable bilateral economic and trade relations.
China and the US also agreed that stable bilateral economic and trade relations are beneficial to both nations and the world, Li said.