In a significant development for global trade relations, China and the United States have reached foundational agreements to address mutual trade concerns following intensive discussions in Kuala Lumpur, Malaysia. The talks, held over two days, were led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent, alongside US Trade Representative Jamieson Greer. The negotiations were guided by the strategic consensus established by the leaders of both nations during their recent communications. The discussions covered a range of critical issues, including the US Section 301 measures targeting China’s maritime, logistics, and shipbuilding sectors, the extension of tariff suspensions, fentanyl-related tariffs, agricultural trade, and export controls. Both parties have committed to detailing these agreements and navigating their respective domestic approval processes. Vice-Premier He emphasized the mutual benefits of stable Sino-American trade relations, advocating for dialogue based on mutual respect and win-win cooperation. He also highlighted the importance of implementing the agreements reached during the leaders’ discussions and the outcomes of this year’s trade talks to foster trust and expand cooperation. The US delegation acknowledged the pivotal nature of the US-China economic relationship and expressed a readiness to collaborate with China to resolve differences and enhance mutual development. Both sides agreed to utilize the established economic and trade consultation mechanisms to ensure the sustainable and beneficial growth of their economic relations, aiming to contribute positively to global prosperity.
China, US reach basic consensuses on arrangements to address respective trade concerns
