We have announced the outcomes achieved in the economic and trade relations between China and the United States! The strict reciprocity between China and the U.S. in the economic and trade domain has thus been concretized! On May 16, according to a release by China's Ministry of Commerce, China and the United States reached several consensus points. First, both sides agreed to establish a Trade Council and an Investment Council. They will discuss tariff reductions, with official language from our side indicating equivalent-scale tariff cuts. Second, there are also achievements in the agricultural products sector. In short, the U.S. will promote Chinese dairy products, aquatic products, and potted ornamental plants entering the American market, while we will push for the export of American beef and poultry to China.
Third, both sides agreed to arrangements involving reciprocal tariff reductions on certain products. Fourth, we have reached preliminary intentions regarding the purchase of American aircraft and key components. Clearly, from these outcomes, one sentence sums it up: the major consensus between China and the U.S. is that if you lower tariffs, I will lower mine too; if you want to sell your products to me, then you should also facilitate access for my products into your market. Undoubtedly, this is the concrete manifestation of reciprocity and equality in the economic and trade sphere.
From the perspective of Sino-U.S. relations, reaching such consensus fully aligns with the fundamental interests of the people of both countries. Clearly, after the hard-hitting confrontation of the tariff war, both sides are now cooling down and opening their doors wider to each other. At the same time, we have noticed that this time around, the issue of rare earth supply was not discussed, and there has been no tangible concession from the U.S. on adding multiple Chinese high-tech enterprises to its control list. We believe further negotiations will continue, and differences will be properly resolved step by step.
Original source: toutiao.com/article/1865351446402057/
Disclaimer: This article represents the personal views of the author.