INSUBCONTINENT EXCLUSIVE:
A representative for Chinas Ministry of Commerce stated on Monday that China and the United States reached a joint statement following the
financial and trade meeting between the 2 countries, adding that it marks a crucial step by both sides to solve differences through
equivalent discussion and consultation, laying the structure and producing conditions for more bridging differences and deepening
cooperation.Commenting on the declaration, the representative kept in mind that both sides reached a number of positive agreements
China and the United States acknowledged the value of their bilateral economic and trade relationship to both nations and the global economy
and the significance of a sustainable, long-term, and mutually advantageous financial and trade relationship.The representative stated that
the top-level conference attained substantial progress by considerably minimizing bilateral tariff levels
The United States will eliminate a total of 91-percent extra tariffs on Chinese products and China will accordingly cut 91-percent
countermeasure extra tariffs on U.S
The United States will suspend a 24-percent mutual tariff and China similarly will suspend a 24-percent countermeasure tariff.Such efforts
met the expectations of producers and consumers in both countries, and remains in line with the interests of both countries and the wider
global community, stated the spokesperson.The spokesperson revealed the hope that the U.S
side will continue to work with China, move in the same direction, and completely remedy its incorrect practice of imposing unilateral
tariffs.China also hopes that the 2 nations will be able to continuously improve equally useful cooperation and preserve the healthy,
steady, sustainable advancement of bilateral economic and trade relations to inject greater certainty and stability into the world economy,
the spokesperson said.(With input from Xinhua)
