Relations between China and the United States took a significant turn on Monday. After a key economic and trade meeting, the two countries issued a joint statement, an important step towards resolving long-standing disputes.
A spokesman for the Chinese Ministry of Commerce described the outcome of the meeting as "a basis for bridging differences and deepening cooperation". The two sides agreed to removal of 91 % additional duties imposed during trade disputes - both by the US against Chinese goods and by China against US products.
In addition, both countries suspend 24% retaliatory dutieswhich has been a symbol of strained relations in recent years. According to the spokesman, these steps are in line with the expectations of producers and consumers in both countries, while strengthening the stability of the global economy.
A new basis for mutual trustIn a joint statement, China and the US acknowledge that their the bilateral economic relationship is of vital importance not only for both countries, but also for the global economy. They stress the importance of a long-term, sustainable and mutually beneficial partnership.
A Chinese ministry spokesman expressed hope that Washington would continue to cooperate, reverse unilateral trade actions of the past and together with Beijing, strengthen mutually beneficial relations.
Message to the world: stability instead of rivalry
This agreement comes at a time of geopolitical uncertainty and economic challenges. Sino-US cooperation, based on equal dialogue and consultation, according to a ministry spokesman, sends a clear signal: the world's two largest economies are ready to seek solutions instead of confrontation - and bring more certainty and stability to the global economy.
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