On the 30th, the spokesperson for the Ministry of Commerce responded to questions from reporters regarding the joint arrangements for the China-US economic and trade talks in Kuala Lumpur.
Question: It is understood that during the China-US economic and trade talks in Kuala Lumpur, both sides have reached a joint arrangement on resolving each other's concerns about economic and trade issues. Could the Ministry of Commerce introduce more details about the consensus of the Kuala Lumpur economic and trade talks?
Answer: The leaders of China and the United States just held a meeting in Busan, South Korea, and discussed in depth topics such as Sino-US economic and trade relations, and agreed to strengthen cooperation in areas such as economy and trade. China is willing to work with the US side to jointly safeguard and implement the important consensus reached by the leaders of the two countries.
The achievements and consensus reached through the Kuala Lumpur consultations between the China-US economic and trade teams mainly include the following aspects:
First, the US will cancel the 10% so-called "fentanyl tariff" imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region), and the 24% reciprocal tariff imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) will continue to be suspended for one year. China will adjust its countermeasures against the above-mentioned tariffs imposed by the US accordingly. Both sides agree to continue extending some tariff exclusion measures.
Second, the US will suspend the implementation of its 50% penetration rule announced on September 29 for one year. China will suspend the implementation of related export control measures announced on October 9 for one year, and will study and refine specific plans.
Third, the US will suspend the implementation of its 301 investigation measures against China's maritime, logistics, and shipbuilding industries for one year. After the US suspends the relevant measures, China will also suspend the corresponding countermeasures against the US for one year.
In addition, both sides have reached a consensus on issues such as fentanyl drug control cooperation, expanding agricultural product trade, and handling individual cases involving relevant companies. Both sides further confirmed the results of the Madrid economic and trade consultations. The US made positive commitments in areas such as investment, and China will properly resolve the TikTok-related issues with the US.
The positive results of the China-US Kuala Lumpur economic and trade talks fully demonstrate that both sides have upheld the spirit of equality, respect, and mutual benefit, and have found ways to solve problems through dialogue and cooperation. The achievements of the economic and trade talks are hard-won, and the Chinese side expects to work with the US to do a good job in implementation, bringing more certainty and stability to Sino-US economic and trade cooperation and the world economy.
Original text: https://www.toutiao.com/article/7566910377124954664/
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