US-China Economic and Trade Consultations | He Lifeng Urges US to Completely Eliminate Unilateral Tariff Measures

China-U.S. Economic and Trade Teams Conclude Two Days of Talks in Paris

On Monday, the China-U.S. economic and trade teams concluded a two-day series of negotiations in Paris, France. According to Xinhua News Agency, He Lifeng, China’s lead negotiator for economic and trade affairs and Vice Premier of the State Council, stated that China opposes the U.S. unilateral tariff increases and has maintained a consistent stance. He urged the U.S. to fully cancel unilateral tariff measures and other restrictions, and said China will take necessary measures to firmly defend its legitimate rights and interests.

China Firmly Defends Its Legitimate Rights and Interests

According to CCTV News, Li Chenggang, China’s International Trade Negotiator and Vice Minister of Commerce, expressed opposition to the U.S. unilateral Section 301 investigation.

He Lifeng held economic and trade talks with U.S. lead negotiator and U.S. Treasury Secretary Janet Yellen and Trade Representative Katherine Tai in Paris. He said that both sides, guided by the important consensus reached by the Chinese and U.S. heads of state, engaged in honest, in-depth, and constructive discussions on issues of mutual concern, including tariff arrangements, promoting bilateral trade and investment, and maintaining existing consensus. They reached some new agreements and will continue consultations.

He Lifeng pointed out that under the strategic guidance of the important consensus of the two heads of state, after five rounds of negotiations last year, China and the U.S. achieved a series of results in trade and economic cooperation, injecting more certainty and stability into their relationship and the global economy. Recently, the U.S. Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act were illegal. Subsequently, the U.S. imposed a 10% additional import fee on all trading partners under Section 122 of the Trade Act of 1974, and has introduced other measures related to Section 301 investigations, corporate sanctions, and market access restrictions concerning China. China opposes the U.S. unilateral tariff increases and urges the U.S. to fully cancel such measures. China will take necessary actions to resolutely safeguard its legitimate rights and interests.

He Lifeng hopes that the U.S. and China will work together to implement the important consensus of their leaders, expand cooperation, reduce issues, and promote healthy, stable, and sustainable development of China-U.S. economic and trade relations.

The U.S. side stated that stable China-U.S. economic and trade relations are very important for both countries and the world, as they help 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, continue to leverage the role of the China-U.S. economic and trade consultation mechanism, strengthen dialogue and communication, properly manage differences, expand practical cooperation, and promote the continuous and stable development of bilateral economic and trade relations.