The First Meeting of the China-U.S. Economic and Trade Consultation Mechanism Was Held in London, UK

From June 9 to 10 local time, He Lifeng, the Chinese lead negotiator for China-US economic and trade talks and Vice Premier of the State Council, held the first meeting of the China-US economic and trade consultation mechanism with the US lead negotiators, US Treasury Secretary Scott Bessent, Commerce Secretary Gina Raimondo, and Trade Representative Jamie Grierson in London, UK. Both sides engaged in candid and in-depth dialogue, exchanged in-depth views on economic and trade issues of mutual concern, reached a consensus in principle on the framework of measures to implement the important agreements reached during the phone call between the two heads of state on June 5 and to consolidate the outcomes of the Geneva economic and trade talks, and made new progress in addressing each other's economic and trade concerns.

He Lifeng stated that this meeting was an important consultation conducted under the strategic consensus reached by the two heads of state on June 5 this year. China's attitude and stance on China-US economic and trade issues are clear and consistent. The essence of China-US economic and trade relations is mutual benefit and win-win results. Both countries stand to gain from cooperation and suffer from confrontation in the economic and trade field. There are no winners in a trade war. China does not want to fight one, but it is not afraid to do so either. Both sides should resolve economic and trade differences through equal dialogue and mutually beneficial cooperation. China is sincere and principled in its economic and trade consultations. Going forward, both sides should further leverage the role of the China-US economic and trade consultation mechanism in accordance with the important agreements and requirements reached during the phone call between the two heads of state, continuously enhance consensus, reduce misunderstandings, and strengthen cooperation. China reiterates that both sides should work together, honor their commitments, and take concrete actions to fulfill the consensus. They should demonstrate the spirit of integrity in upholding commitments and make efforts to jointly safeguard the hard-won outcomes of the dialogue, continue to maintain communication and dialogue, promote the steady and long-term development of China-US economic and trade relations, and inject more certainty and stability into the world economy.

The US side stated that the meeting achieved positive outcomes, further stabilizing bilateral economic and trade relations. It will work together with China in accordance with the requirements of the phone call between the two heads of state to jointly implement the consensus reached during this meeting. (CCTV News)