China and the United States reach consensus on economic and trade issues, stop tariff escalation measures

On the evening of December 1, local time, President Xi Jinping and US President Trump met in Buenos Aires, Argentina. After the meeting, the relevant person in charge of the Chinese economic and trade team told reporters that the two heads of state discussed the Sino-US economic and trade issues and reached a consensus.

The two heads of state positively evaluated the positive and effective consultations recently conducted by the economic and trade teams of the two sides. The two sides believe that a healthy and stable Sino-US economic and trade relationship is in the common interest of the two countries and the world.

The two sides decided to stop the trade restrictions such as upgrading tariffs, including not raising the existing tariff rate for each other, and not introducing new tariff increases on other commodities.

The two sides agreed to immediately address each other’s concerns in a spirit of mutual respect, equality and mutual benefit. In accordance with the requirements of the 19th National Congress of the Communist Party of China, China will further take measures to deepen reform and expand opening up. In the process, some economic and trade issues that the US is concerned about will be resolved. At the same time, the US will also actively resolve the economic and trade issues of concern to China.

The two heads of state instructed the economic and trade teams of the two sides to intensify consultations and reach an agreement to cancel the tariffs imposed this year and push bilateral economic and trade relations back to normal track as soon as possible to achieve a win-win situation.

Post time: Dec-07-2018
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