China–US Trade Talks: Two Clinch Consensus, But Hold Their Lines
FILE – In this Feb. 14, 2019, file photo, Chinese staffers adjust U.S. and Chinese flags before the opening session of trade negotiations between U.S. and Chinese trade representatives at the Diaoyutai State Guesthouse in Beijing. Beijing on Friday, June 28, 2019
The trade talks between China and the US were held on the sidelines of the ASEAN summit in Kuala Lumpur on October 25–26. The Chinese and US delegations were led by Vice Premier He Lifeng and Treasury Secretary Scott Bessent, respectively.“The US side took a firm stance while China resolutely defended its interests,” Chinese Vice Commerce Minister Li Chenggang underscored.He noted that the Chinese and American delegations discussed a wide range of issues, including export controls, fentanyl tariffs, cooperation in combating illegal drug trafficking, extension of mutual suspension of additional tariffs, and further trade expansion.“After more than a day of intense talks, China and the US constructively considered several solutions that properly address both sides’ concerns on the abovementioned issues and reached a preliminary consensus,” Li stressed.He added that the next step would be the sides carrying out internal approval procedures.For his part, US Treasury Secretary Scott Bessent praised the talks as “very substantial negotiations,” voicing hope that the extension of trade truce is possible.
WorldUS, China Reach Trade Framework – Bessent08:20 GMT
