According to CCTV News, from March 15th to 16th local time, the Chinese leader of China-U.S. economic and trade, Vice Premier He Lifeng, and the U.S. leaders, U.S. Treasury Secretary Bessant and Trade Representative Greer, held economic and trade consultations in Paris, France. Guided by the important consensus reached by the heads of state of China and the United States, the two sides conducted candid, in-depth and constructive exchanges and consultations on economic and trade issues of mutual concern such as tariff arrangements, promoting bilateral trade and investment, and maintaining existing consultation consensus, and formed some new consensuses, and will continue to maintain consultations.
He Lifeng said that under the strategic guidance of the important consensus reached by the two heads of state, after five rounds of economic and trade consultations last year, China and the United States reached a series of consultation results in the economic and trade field, which injected more certainty and stability into the economic and trade relations between the two countries and the world economy. Recently, the U.S. Supreme Court has ruled that the tariffs imposed by the United States in accordance with the International Emergency Economic Powers Act are illegal. Subsequently, the United States imposed a 10% import surcharge on all trading partners in accordance with Article 122 of the Trade Act of 1974. It has also successively introduced negative measures related to China such as 301 investigations, corporate sanctions, and market access restrictions. China’s position is consistent in opposing the U.S.’s imposition of unilateral tariffs, urging the U.S. to completely cancel unilateral tariffs and other restrictive measures, and will take necessary measures to resolutely defend its legitimate rights and interests. It is hoped that the United States and China will meet each other halfway, jointly implement the important consensus reached by the two heads of state, continuously expand the list of cooperation, shorten the list of issues, and promote the healthy, stable and sustainable development of Sino-US economic and trade relations.
The US side stated that stable Sino-US economic and trade relations are very important to both countries and the world, and help promote global economic growth, supply chain security and financial stability. Both sides should reduce friction, avoid escalation of issues, and resolve differences through consultation.
The two sides agreed to study the establishment of a cooperation mechanism to promote bilateral trade and investment, continue to give full play to the role of the China-US economic and trade consultation mechanism, strengthen dialogue and communication, properly manage differences, expand practical cooperation, and promote the continued stability and improvement of bilateral economic and trade relations.
