China and the United States reach a positive consensus on tariff arrangements
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According to Xinhua News Agency, the heads of state of China and the United States recently met and reached a new positioning consensus on building a "constructive strategic and stable relationship between China and the United States", providing strategic guidance for the development of bilateral relations in the next three years and even longer.
The spokesperson of the Ministry of Commerce said in a reporter's question on May 16 that on May 13, the Sino-US economic and trade team held economic and trade consultations in South Korea to prepare for the heads of state meeting in the economic and trade field. During the consultation process, the two sides were guided by the important consensus reached by the two heads of state, followed the principles of mutual respect, peaceful coexistence, and win-win cooperation, and conducted candid, in-depth and constructive exchanges focusing on resolving economic and trade issues of mutual concern and deepening practical cooperation. Since then, the two sides have conducted intensive communication on the specific content of the consultation results and reached a positive consensus.
At present, the preliminary results reached by the two sides in the economic and trade field mainly include the following five aspects:
First, both sides will continue to implement the results of the previous consultations.and formed a positive consensus on tariff arrangements.
Second, the two sides agreed to establish a Trade Council and an Investment Council to discuss their respective concerns in the field of bilateral trade and investment.The Trade Council will discuss the issue of tax reductions for related products, and both parties agree in principle to implement tax reductions for products of equal scale that the other party is concerned about.
Third, the two sides will focus on solving or substantively promoting non-tariff barriers and market access issues in some agricultural products. The United States is committed to actively promoting the resolution of China's long-term concerns regarding the automatic detention of dairy and aquatic products, the export of medium bonsai to the United States, and the identification of Shandong avian influenza-free areas. China will also actively promote the resolution of U.S. concerns regarding the registration of beef facilities and the export of poultry meat to China from some states.
Fourth, the two sides agreed to promote the expansion of two-way trade, including agricultural products, through mutual tax reduction arrangements for a certain range of products.
Fifth, the two sides reached relevant arrangements for China's purchase of aircraft from the United States and the United States' guarantee of the supply of aircraft engines and parts to China, and agreed to continue to promote cooperation in related fields.
The Ministry of Commerce stated that the positive results achieved in China-US economic and trade consultations show that the two sides uphold the spirit of mutual respect, equality and mutual benefit, and can find effective ways to solve problems through dialogue and cooperation. The two sides are currently still conducting further consultations on the details of the outcome. The economic and trade teams of the two countries will follow the consensus direction set by the heads of state, lock in the results as soon as possible and jointly promote implementation, injecting more certainty and stability into the next step of Sino-US economic and trade cooperation and the world economy.
