China and the United States hold economic and trade consultations in Paris, France

Paris, March 16th (Xinhua) -- From March 15th to 16th local time, He Lifeng, the Chinese leader in China US economic and trade relations and Vice Premier of the State Council, held economic and trade consultations in Paris, France with US leaders, US Treasury Secretary Bessent, and Trade Representative Greer. Guided by the important consensus reached by the heads of state of China and the United States, the two sides conducted frank, in-depth, and constructive exchanges and consultations on economic and trade issues of mutual concern, such as tariff arrangements, promoting bilateral trade and investment, and maintaining existing consultation consensus. They have formed some new consensus and will continue to maintain consultations.

He Lifeng stated that under the important consensus strategy of the two heads of state, after five rounds of economic and trade consultations last year, China and the United States have achieved a series of consultation results in the field of economy and trade, injecting more certainty and stability into the economic and trade relations between the two countries and the world economy. Recently, the US Supreme Court has ruled that the tariffs imposed by the US under the International Emergency Economic Powers Act are illegal. Subsequently, the US imposed a 10% import surcharge on all trading partners under Section 122 of the 1974 Trade Act, and has also introduced negative measures related to China, such as Section 301 investigations, corporate sanctions, and market access restrictions. The Chinese side's opposition to the US imposing unilateral tariffs has always been consistent, urging the US to completely lift unilateral tariffs and other restrictive measures, and will take necessary measures to resolutely defend its legitimate rights and interests. We hope that the US and China will work together to implement the important consensus reached by the two heads of state, continuously expand the list of cooperation, compress the list of issues, and promote the healthy, stable, and sustainable development of China US economic and trade relations.

The US side stated that a stable economic and trade relationship between China and the United States is very important for both countries and the world, as it helps to promote global economic growth, supply chain security, and financial stability. Both sides should reduce friction, avoid escalation of issues, and resolve differences through consultation.

Both sides agree to study and establish a cooperation mechanism to promote bilateral trade and investment, continue to play a good role in the China US economic and trade consultation mechanism, strengthen dialogue and communication, properly manage differences, expand practical cooperation, and promote the sustained stability and improvement of bilateral economic and trade relations.