China-US Trade Talks Yield Progress, Commitment to Dialogue

High-level economic and trade talks between China and the United States took place in Geneva, Switzerland, on May 10 and 11. The Chinese delegation was led by Vice premier of the State Council, He Lifeng, while the U.S. delegation was led by U.S. Treasury Secretary and U.S. Trade Representative. The talks, which lasted approximately eight hours on the first day, were described as candid, in-depth, and constructive by the Chinese delegation. Both sides engaged in substantive discussions on issues of mutual concern, resulting in significant progress and important consensus.

He Lifeng emphasized that China and the United States share broad common interests and extensive cooperation potential. As two major economies with different stages of development and economic systems, it is natural for them to have disagreements and friction in their economic and trade cooperation. The key is to adhere to the important consensus reached by the leaders of the two countries, follow the principles of mutual respect, peaceful coexistence, and win-win cooperation, and find appropriate solutions through equal dialogue and consultation. He Lifeng stressed that a trade war has no winners, and while China does not want a trade war, it is also not afraid of one. If the U.S. insists on harming China's interests, China will firmly retaliate and stand its ground. Maintaining the healthy, stable, and sustainable development of China-U.S. economic and trade relations is in the fundamental interests of both countries and their peoples, and it is also conducive to global economic growth. Both sides should tap into the potential for cooperation, expand the scope of cooperation, and create a larger pie for cooperation to drive the continuous development of China-U.S. economic and trade relations and inject more certainty and stability into the world economy.

Both sides agreed to establish an economic and trade consultation mechanism to maintain communication on their respective concerns in the economic and trade fields. The talks were seen as a positive step towards easing trade tensions between the two countries. While no major breakthroughs were announced, the resumption of dialogue was viewed as a significant development. The talks were also seen as a way to release positive signals and reopen channels of communication that had been strained in recent years. The Chinese delegation noted that the talks had laid the groundwork for future negotiations and that both sides were committed to continuing the dialogue.

The second day of the talks continued with a similar level of intensity and focus. Both sides remained engaged in detailed discussions, with a particular emphasis on finding common ground and addressing the core issues that had led to the trade dispute. The talks concluded with both sides expressing satisfaction with the progress made and a commitment to continuing the dialogue in the future. The Chinese delegation reiterated that the talks had been productive and that both sides had made significant progress towards resolving their differences.

Since taking office, the new U.S. administration has implemented a series of unreasonable unilateral tariff measures, disrupting China-U.S. economic and trade relations and the international economic and trade order. In response, China has taken decisive countermeasures to protect its own interests and defend the global trading system. Recently, the U.S. has repeatedly expressed its desire to negotiate tariff adjustments with China. On the morning of May 10, local time, high-level economic and trade talks between China and the U.S. began in Geneva, Switzerland. He Lifeng, a member of the Political Bureau of the Central Committee and Vice Premier of the State Council, led the Chinese delegation and held talks with the U.S. delegation, led by the U.S. Treasury Secretary. The China-U.S. tariff war has seen a breakthrough.

China's decision to engage in dialogue has attracted global attention. The news sparked a rally in major global stock indexes and stock index futures. While China maintains an open attitude towards dialogue, any coercion or extortion disguised as negotiations will be firmly resisted. China remains steadfast in its position, insisting on resolving disputes through fair and just dialogue and consultation, with no room for compromise. The U.S. side must act in good faith and work towards a fair and reasonable agreement, rather than using coercive measures. Only then can a meaningful dialogue with China be established.

China's position can be summed up in an ancient saying: "Listen to their words and observe their actions." China urges the U.S. to take concrete actions rather than making soothing statements. China is willing to work with all parties to maintain the international trading system. It is now clear that appeasement does not bring peace, and compromise does not earn respect. Upholding principles and justice is the right way to protect one's own interests. China is taking concrete actions to create a cooperative and mutually beneficial atmosphere. The U.S. should also show sincerity and work towards a common goal with China.