【US-China Relations】US-China Economic and Trade Consultations Conclude　Li Chenggang: Some Issues Reach Preliminary Consensus　Bessent: If Xi-Trump Meeting is Postponed, it's Due to Logistical Arrangements

China-U.S. Economic and Trade Team Concludes Two Days of Negotiations

Chinese Ministry of Commerce International Trade Negotiation Representative and Vice Minister Li Chenggang stated that through this round of negotiations, both sides have reached preliminary consensus on some issues. The next step will be to continue the negotiation process. U.S. Treasury Secretary Janet Yellen said the meeting was very smooth, relations are stable, and she does not want to decouple from China, but is undergoing strategic adjustments.

Li Chenggang mentioned that the U.S. introduced new tariff adjustments and further considerations, while China expressed concerns about uncertainties. Both sides reviewed the implementation of last year’s consensus and gave overall positive feedback. He revealed that China and the U.S. discussed establishing a bilateral working mechanism to promote trade and investment cooperation, agreeing that stable bilateral economic and trade relations are beneficial for both countries and the world.

Regarding the U.S. initiating Section 301 investigations on China and 15 other trading partners, Li Chenggang pointed out that China is concerned that the results of the U.S. Section 301 investigations related to China may interfere with the achieved economic and trade outcomes. China hopes the U.S. will keep its promises and work constructively with China.

U.S. Treasury Secretary Janet Yellen: Markets Should Not Assume Any Schedule Adjustments Are Due to U.S.-China Conflict

The conflict in Iran continues. U.S. President Trump previously indicated that he might delay his visit to China and urged Beijing to help resolve the blockage in the Strait of Hormuz.

Yellen reiterated that markets should not assume any schedule adjustments are due to conflicts between the U.S. and China. If Trump’s visit to China is delayed, it will not be because of the Strait of Hormuz; any changes will be due to logistical arrangements triggered by the Iran situation.