The Chinese and U.S. delegations held open, in-depth and constructive talks and consultations in Paris from Sunday to Monday on economic and trade issues of mutual interest, including tariff measures, promoting bilateral trade and investment, and maintaining the existing consensus from previous consultations.

During the negotiations, which were guided by an important consensus reached between the two Heads of State, both sides reached some new agreements and agreed to continue consultations.

Under the strategic guidance of important common understandings between the two heads of state, and after five rounds of economic and trade consultations last year, China and the United States have achieved a number of results in the economic and trade fields, Chinese Vice Premier He Lifeng said during a new round of Sino-US economic and trade talks with US chief negotiator, Treasury Secretary Scott Bessent, and US Trade Representative Jamieson Greer.

These results, according to He Lifeng, have brought greater certainty and stability to bilateral economic and trade relations and to the global economy.

He Lifeng further stated that the US Supreme Court recently ruled that tariffs imposed by the US government under the International Emergency Economic Powers Act were illegal. Subsequently, the US side imposed an additional 10 per cent import surcharge on all trading partners under Section 122 of the Trade Act of 1974 and successively imposed a series of negative measures against China, including Section 301 investigations, sanctions against companies and market access restrictions.

China has always consistently rejected unilateral tariffs imposed by the United States, He said, and called on Washington to completely eliminate those tariffs and other restrictive measures.

China will take the necessary steps to firmly protect its legitimate rights and interests, He added.

China expects the United States to follow the same direction, fulfill the important consensus reached between the two heads of state, expand areas of cooperation and reduce problems to promote the healthy, stable and sustainable development of Sino-US economic and trade relations, He said.

The US side said that stable Sino-US economic and trade relations are very important not only for both countries but also for the world, and help promote global economic growth, supply chain security and financial stability. The two sides should reduce friction points, avoid escalating the situation and resolve differences through consultation.

The two sides agreed to explore the possibility of establishing a cooperation mechanism to promote bilateral trade and investment, continue to use the Sino-US economic and trade consultation mechanism, strengthen dialogue and communication, properly manage differences, expand practical cooperation, and promote the sustained, stable and sound development of bilateral economic and trade relations.

CMG