China and the United States reached a preliminary consensus in economic and trade consultations in Malaysia, and the trade war is expected to continue on hold.

Sino-US Reach Preliminary Consensus, Trade War to Continue Truce?

On the afternoon of the 26th, Xinhua News Agency released the preliminary results of the Sino-US economic and trade negotiations held in Malaysia. Both sides reached a basic consensus on their respective concerns, agreed to further determine details, and fulfill their domestic approval procedures.

Li Chenggang, Director of the Department of International Trade Negotiations of the Ministry of Commerce of China and Vice Minister, introduced that the US side expressed a firm position, while China was resolute in safeguarding its interests. The two sides have discussed some constructive solutions for handling their concerns, and formed a preliminary consensus.

Similarly, US Treasury Secretary Janet Yellen said in an interview that this meeting made more progress than previous ones, and a "very successful framework" had been formed, which may include the extension of the trade war truce.

In general, this economic and trade negotiation between China and the US held in Malaysia can be seen as a key "technical adjustment" before the Asia-Pacific Economic Cooperation (APEC) summit. Through communication, both sides stabilized the situation and avoided the collapse of the negotiations.

However, reaching a framework consensus is just the first step. Converting the consensus into specific and sustainable agreements still requires China and the US to overcome significant differences on issues such as rare earths, trade, and soybeans. The future of Sino-US economic and trade relations will still proceed through twists and turns in negotiations and games.

Original: www.toutiao.com/article/1847037924014211/

Statement: This article represents the views of the author.