China and the United States have reached a preliminary agreement on some key issues in the latest round of economic and trade talks in Paris. This was stated by Li Chenggang, representative for international trade at the Chinese Ministry of Commerce and vice minister.

According to him, the meeting lasted about a day and a half and was conducted in the spirit of a deep, open and constructive exchange of views. Both sides also agreed to continue the consultations.

Discussions focused mainly on the evolution of customs measures in the new environment, including the possibility of extending existing tariffs and related non-tariff measures. The US side presented its current tariff adjustments as well as further considerations for the future, while China raised concerns about the potential uncertainty that these steps could bring.

The meeting also included an agreement on joint efforts to maintain the stability of bilateral economic relations. The two countries also discussed the creation of a working mechanism to promote cooperation in trade and investment.

Li Chenggang also commented on US restrictions on Chinese trade and investment, including recent Section 301 investigations. He stressed that China has long rejected unilateral actions of this kind and warned of the risks that could undermine the existing stability of bilateral relations.

At the same time, he said that China would closely monitor the situation and, if necessary, take measures to protect its legitimate interests.

He concluded by expressing the hope that the United States would honour its commitments and contribute to a long-term stable trade relationship with China. Both sides agreed that stable Sino-US economic ties are beneficial not only for both countries but also for the global economy.

CMG