Xinhua News Review | Moving Forward Together, Injecting Stability into China US Economic and Trade Relations

The new round of China US economic and trade consultations came to an end on the 26th in Kuala Lumpur, Malaysia. This consultation has received high attention from the international community. Guided by the important consensus reached in the previous phone calls between the two heads of state since the beginning of this year, the two sides have engaged in frank, in-depth, and constructive exchanges and consultations on important economic and trade issues of mutual concern, such as the US 301 measures on maritime logistics and shipbuilding to China, the extension of the equivalent tariff suspension period, fentanyl tariffs and law enforcement cooperation, agricultural product trade, and export controls. Basic consensus has been reached on arrangements to address each other's concerns. Both parties agree to further determine specific details and follow their respective domestic approval procedures.

The diplomacy of the head of state plays an irreplaceable strategic leading role in China US relations. In the past few months, guided by the important consensus reached during the previous phone calls between the two heads of state, the economic and trade teams of both sides have held multiple rounds of consultations and reached positive consensus, reflecting the spirit of equality, respect, and mutual benefit, and promoting the healthy, stable, and sustainable development of China US economic and trade relations. This fully demonstrates that to ensure that the two giant ships of China and the United States move forward together without deviation or stalling, it is necessary to adhere to the strategic guidance of the two heads of state without wavering, and to implement the important consensus of the two heads of state without compromising.

The essence of China US economic and trade relations is mutual benefit and win-win. If both sides cooperate, they benefit; if they fight, they both suffer. China and the United States have extensive common interests and broad cooperation space, and have formed a pattern of complementary advantages and mutual benefit in the field of economy and trade. As the world's top two economies, it is normal for China and the United States to have differences in economic and trade exchanges due to their large scale, rich content, wide coverage, and diverse subjects involved. For the differences and frictions that arise in economic and trade cooperation, both sides should adhere to the principles of mutual respect, peaceful coexistence, and win-win cooperation, and find appropriate solutions to each other's concerns through equal dialogue and consultation.

Maintaining the stable development of China US economic and trade relations is in line with the fundamental interests of both countries and their peoples, as well as the expectations of the international community. The tariff war and trade war do not serve the interests of either party. China has always maintained a responsible attitude and adhered to the basic position of resolving disputes through dialogue and consultation. It has conducted multiple rounds of economic and trade consultations with the United States and made efforts to stabilize bilateral economic and trade relations. In this consultation, both sides agreed to fully leverage the role of the China US economic and trade consultation mechanism under the strategic guidance of the two heads of state, maintain close communication on their respective concerns in the economic and trade fields, promote the healthy, stable, and sustainable development of China US economic and trade relations, benefit the people of both countries, and promote world prosperity.

China and the United States can achieve mutual success and prosperity, benefiting both countries and the world. The results of the China US economic and trade consultations are hard won and need to be jointly maintained by both sides. We hope that the US and China will work together to implement the important consensus reached in the previous phone calls between the two heads of state and the results of economic and trade consultations since the beginning of this year, further accumulate mutual trust, manage differences, expand mutually beneficial cooperation, and promote bilateral economic and trade relations to a higher level.