The Chinese and US economic and trade delegations held talks in Paris, France, for two consecutive days starting from the 16th. The Chinese side's lead, Vice Premier He Lifeng, and the US side's lead, Treasury Secretary Yellen and Trade Representative Katherine Tai, held economic and trade consultations in Paris, France. Guided by the important consensus of the heads of state of China and the US, both sides conducted candid, in-depth, and constructive exchanges and consultations on economic and trade topics of mutual concern, including tariff arrangements, promoting bilateral trade and investment, and safeguarding existing consultation consensus. Some new consensuses were reached and further consultations will continue.
He Lifeng stated that under the strategic guidance of the important consensus reached by the two heads of state, after five rounds of economic and trade consultations last year, China and the US achieved a series of results in economic and trade consultations. This has injected more certainty and stability into the two countries' economic and trade relations and the world economy. Recently, the US Supreme Court ruled that the additional tariffs imposed under the International Emergency Economic Powers Act are unlawful. Afterwards, the US imposed a 10% additional import fee on all trade partners based on Section 122 of the 1974 Trade Act, and has also successively made negative moves regarding Section 301 investigations, corporate sanctions, and market access restrictions involving China.
He Lifeng pointed out that China's opposition to the unilateral imposition of tariffs by the US has been consistent, urging the US to completely remove unilateral tariffs and other restrictive measures. He emphasized that China will take necessary actions to resolutely safeguard its legitimate rights and interests, and hopes that the US will work together with China to fully implement the important consensus of the two heads of state, continuously expand the list of cooperation, reduce the list of issues, and promote the healthy, stable, and sustainable development of China-US economic and trade relations.
US Treasury Secretary Yellen stated that the talks with senior Chinese officials were constructive. The US side noted that a stable China-US economic and trade relationship is very important for both countries and the world, as it helps 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 agreed to explore the establishment of a cooperation mechanism to promote bilateral trade and investment, to continue making good use of the China-US economic and trade consultation mechanism, to strengthen dialogue and communication, properly manage differences, expand pragmatic cooperation, and promote the continued stable and positive development of bilateral economic and trade relations.
US Trade Representative Katherine Tai, who attended the meeting, revealed that the US had briefed China on the tariff policy adjustments in response to the Supreme Court ruling, including launching trade investigations involving China. She noted that at present, there is no intention to prejudge the results of the investigation, and emphasized that the Trump administration's trade policy remains unchanged, and that there has been good communication with the Chinese side.