The important consensus has been achieved in the Sino-US economic and trade talks, and both parties agree to establish a consultation mechanism.

Indeed, the more resolute the countermeasures, the greater the benefits! The contact between China and the United States has gone more smoothly than imagined! After the contact between the two sides in Switzerland, the Chinese lead negotiator for Sino-US economic and trade affairs, our Vice Premier of the State Council, He Lifeng, stated that important consensus had been reached in the high-level Sino-US economic and trade talks and substantive progress had been made. Both sides agreed to establish a Sino-US economic and trade consultation mechanism, and a joint statement of the talks will be released on Monday (May 12).

And after we expressed the achievement of important consensus, the US side also stated that substantive progress had been made. Although the joint statement of the two sides has not yet been announced and relevant details have not been disclosed, both sides have consistently acknowledged reaching important consensus, which is indeed unexpected. However, given the US's consistent toughness since the trade war, it is likely that the trade war has caused sufficient pain to the US, forcing them to make substantive concessions.

From a common sense perspective, both sides must have made concessions. The US must have put its most urgent matters on the table for discussion with us, and this matter may involve the rare earth issue. The consensus between China and the US is undoubtedly good news. The unexpected consensus reached between China and the US once again proves that our strategy toward the US was entirely correct, namely, the more resolute the attitude and the stronger the countermeasures, the more concessions the US can make.

Source: https://www.toutiao.com/article/1831871418898441/

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