Li Chenggang: China and the United States have reached a preliminary consensus on prudently resolving multiple important economic and trade issues

Kuala Lumpur, October 26th (Xinhua) - From October 25th to 26th local time, China and the United States held economic and trade consultations in Kuala Lumpur. Li Chenggang, International Trade Negotiator and Deputy Minister of the Ministry of Commerce of China, told Chinese and foreign media reporters after the consultations that the two sides have reached a preliminary consensus on properly resolving multiple important economic and trade issues of mutual concern, and the next step will be to fulfill their respective domestic approval procedures.

In the past month or so, there have been some oscillations and fluctuations in the economic and trade relations between China and the United States, which have attracted global attention. "Li Chenggang said that since the May economic and trade talks between China and the United States in Geneva, China has strictly followed the consensus reached by the heads of state of China and the United States on multiple phone calls, implemented the consensus arrangements reached in economic and trade consultations with integrity and seriousness, and carefully nurtured the hard won and relatively stable economic and trade cooperation between China and the United States. The emergence of these oscillations and fluctuations is not something that China wants to see

Li Chenggang introduced that in the past two days, the China US economic and trade teams have had in-depth and candid discussions and exchanges on issues such as the US 301 measures on maritime logistics and shipbuilding industry in China, further extension of the equivalent tariff suspension period, fentanyl tariffs and anti drug cooperation, further expansion of trade, export controls, etc. They have constructively discussed some solutions to properly address the concerns of both sides and formed preliminary consensus.

The US side expresses a tough stance, while China is firm in safeguarding its interests, "said Li Chenggang. During this consultation, the China US economic and trade teams have always respected each other and engaged in equal dialogue. In the future, both sides will further strengthen communication and exchanges, and make positive efforts for the more stable and healthy development of China US economic and trade relations.

Li Chenggang also expressed gratitude to the host Malaysian government for their warm reception and thoughtful arrangements.