China-U.S. Economic and Trade Talks Held in Stockholm, Sweden

Stockholm, July 29 (Xinhua) — From July 28 to 29 local time, Chinese Vice Premier He Lifeng, China’s chief representative for economic and trade affairs with the U.S., held talks in Stockholm, Sweden, with U.S. Treasury Secretary Bassett and Trade Representative Greer, the U.S. counterparts. The two sides engaged in frank, in-depth, and constructive discussions on China-U.S. economic and trade relations, macroeconomic policies, and other issues of mutual interest. They reviewed and acknowledged the implementation of the Geneva consensus and London framework established in previous economic and trade talks. As agreed during the talks, both sides will extend the suspended 24-percent reciprocal tariffs and corresponding countermeasures for another 90 days.

He Lifeng emphasized that the economic and trade teams of both countries should follow the important common understandings reached in the phone call between the two heads of state on June 5. He urged adhering to the principles of mutual respect, peaceful coexistence, and win-win cooperation while addressing each other’s concerns to consolidate consensus and enhance mutual trust. "China’s position on China-U.S. economic and trade relations remains consistent," He stated. "The essence of our economic and trade ties is mutually beneficial cooperation. We share broad common interests and vast potential for collaboration. When China and the U.S. cooperate, both benefit; when they confront, both suffer." He added that a stable, healthy, and sustainable China-U.S. economic relationship serves not only both nations’ development goals but also global economic growth and stability. Moving forward, both sides should fully utilize the China-U.S. economic and trade consultation mechanisms to expand consensus, reduce misunderstandings, strengthen cooperation, and achieve more mutually beneficial outcomes.

The U.S. side expressed that a stable U.S.-China economic relationship is vital for both countries and the global economy. It reaffirmed commitment to working with China through consultation mechanisms to resolve differences and achieve further progress in stabilizing bilateral economic and trade relations.

Contributor: Blanche Gu

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