China and U.S. find common ground on key economic issues
China and the United States reached a basic consensus on several trade and economic issues, Kazinform News Agency reports citing Xinhua.
According to China’s Vice Minister of Commerce and representative for international trade negotiations, Li Chenggang, Beijing and Washington reached agreement on key issues of mutual interest during recent consultations held in Kuala Lumpur.
The two-day talks covered U.S. measures affecting China’s maritime, logistics, and shipbuilding sectors under Section 301 of the U.S. Trade Act, as well as the extension of the suspension of reciprocal tariffs, fentanyl-related tariff, cooperation on drug control, export controls, and trade development.
Li Chenggang noted that China–U.S. relations had gone through a period of “turbulence and fluctuations” over the past month. Nevertheless, he said, China remains committed to the agreements reached during the Geneva talks and in phone conversations between the two countries’ leaders.
“This kind of turbulence is not what China wishes to see,” the Chinese representative emphasized, adding that the discussions were “frank and constructive,” conducted in a spirit of mutual respect and equality.
Once domestic approval procedures are completed, China and the U.S. plan to maintain communication to strengthen stable and healthy trade and economic relations.
Earlier, it was reported that the European Union is working to reduce its dependence on China for rare earth metal supplies.
As reported earlier, China's first domestically developed large-scale dual-fuel roll-on/roll-off (ro-ro) passenger ship "GNV·VIRGO" was delivered in the southern port city of Guangzhou.
