Geneva, Switzerland — China and the United States have wrapped up a two-day high-level meeting on economic and trade affairs, marking a major step forward in easing tensions between the world’s two largest economies.
Chinese Vice Premier He Lifeng met with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer over the weekend. The talks focused on implementing the consensus reached by their respective leaders during a phone call on January 17.
Both sides described the discussions as candid, in-depth, and constructive. They reached several major agreements and made substantial progress, including the decision to establish an economic and trade consultation mechanism to address mutual concerns.
Building Bridges Through Dialogue
At a press conference following the meetings, Vice Premier He Lifeng emphasized the importance of the talks. “Through the joint efforts of both sides, the talks were fruitful. This marks an important step towards resolving differences through equal dialogue and consultation,” he said.
He stressed that economic and trade relations between China and the United States are crucial not only for both nations but also have a significant impact on global economic stability and development. “We have laid the foundation for further narrowing differences and deepening cooperation,” He added.
Li Chenggang, international trade representative and vice minister at the Chinese Ministry of Commerce, highlighted that the talks were conducted professionally and efficiently. “Both sides have accommodated each other’s concerns and development interests, creating favorable conditions for stable, sound, and sustainable development of China-U.S. economic and trade relations,” he said.
Moving Past Trade Frictions
Acknowledging the differences stemming from their unique stages of development and economic systems, He Lifeng noted that it is natural for China and the United States to face challenges in economic and trade cooperation. “The key is to find proper solutions based on mutual respect, peaceful coexistence, and win-win cooperation,” he stated.
Addressing the issue of trade disputes, He remarked, “There are no winners in a trade war. China does not want a trade war but is not afraid of one. If the U.S. side insists on infringing upon China’s rights and interests, China will resolutely retaliate and respond accordingly.”
He urged both nations to explore new areas for collaboration, expand mutual benefits, and promote the continuous development of China-U.S. economic and trade relations. This, he believes, will inject greater stability and certainty into the global economy.
Support from the Global Community
During a meeting with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala, He Lifeng called for resolving disputes through equal dialogue within the WTO framework. He emphasized the need to uphold multilateralism and free trade to ensure the smooth functioning of global industrial and supply chains.
Okonjo-Iweala echoed these sentiments, urging WTO members to work together to defend an open and rules-based multilateral trading system. She highlighted the importance of strengthening dialogue and cooperation on international trade issues to promote trade liberalization, improve trade efficiency, and achieve global sustainable development.
