The two-day China-U.S.
high-level meeting on economic and trade affairs concluded in Geneva, Switzerland.Chinese Vice Premier He Lifeng, who also serves as the Chinese lead on China-U.S.
economic and trade affairs, met with U.S.
lead person Treasury Secretary Scott Bessent and U.S.
Trade Representative Jamieson Greer, over the weekend.Focusing on the implementation of the important consensus reached by the two heads of state during their phone call on January 17, the two sides held candid, in-depth and constructive discussions.
They reached a series of major consensus and made substantial progress during the talks.They also agreed to establish an economic and trade consultation mechanism to maintain communication on their respective concerns in the economic and trade fields.This marks the first round of talks since the U.S.
imposed heavy tariffs on Chinese goods.In-depth, candid and constructiveThe Chinese delegation held a press conference following the high-level meeting with the U.S.
side.The meeting was candid, in-depth and constructive, said He, adding that China and the United States have also agreed to establish an economic and trade consultation mechanism.The two countries, He said, will finalize the relevant details as soon as possible and release a joint statement on Monday summarizing the outcomes of the talks.Through the joint efforts of both sides, the talks were fruitful, he said, adding that this marks an important step towards resolving differences through equal dialogue and consultation.
It has laid the foundation and created conditions for further narrowing differences and deepening cooperation.Economic and trade relations between China and the United States are not only of great significance to both countries but also have a major impact on the stability and development of the global economy, said He.Speaking at the press conference, Li Chenggang, the international trade representative with the Chinese Ministry of Commerce and vice commerce minister, said the two countries conducted the talks based on mutual respect, equality and mutual benefit, in a professional and efficient manner.Both sides, he said, have accommodated each other's concerns and development interests, creating favorable conditions for the stable, sound and sustainable development of China-U.S.
economic and trade relations.Finding solutions, extending list of cooperationAs two major countries at different stages of development and with different economic systems, it is natural for China and the United States to have differences and frictions in economic and trade cooperation, He said during the meeting, stressing that the key is to find proper solutions to these issues based on the principles of mutual respect, peaceful coexistence and win-win cooperation.There are no winners in a trade war, He said, adding that China does not want a trade war but is not afraid of one.
If the U.S.
side insists on infringing upon China's rights and interests, China will resolutely retaliate and respond accordingly.He urged both sides to explore more potential areas for cooperation, extend the list of cooperative initiatives, expand the scope of mutual benefits, promote the continuous and new development of China-U.S.
economic and trade relations, and inject greater stability and certainty into the development of the world economy.During a meeting with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala on Sunday, He called on all parties to resolve differences and disputes through equal dialogue within the WTO framework, to jointly uphold multilateralism and free trade, and to push for the stable and smooth functioning of global industrial and supply chains.Okonjo-Iweala said WTO members should work together to defend an open and rules-based multilateral trading system, strengthen dialogue and cooperation on international trade issues, and enhance the WTO's role in promoting trade liberalization, improving trade efficiency, and achieving global sustainable development.