The Ministry of Commerce reported on Thursday that China and the United States reached an agreement on several issues during economic and trade consultations.
As part of the consultation mechanism, Vice Premier He Lifeng, representing China on economic and trade matters with Washington, and Treasury Secretary Scott Bessent, representing the US, held their first dialogue dedicated to artificial intelligence, according to spokesperson He Yadong.
Both teams engaged in frank, in-depth, and constructive discussions regarding the implementation of existing agreements, mutual tariff reductions, the establishment of trade and investment councils, and the expansion of the joint agreement reached at the consultations in Kuala Lumpur.
The spokesperson clarified that the discussions were based on a crucial shared understanding achieved by the leaders of the two countries, which aligns with the principles of mutual respect, peaceful coexistence, and mutually beneficial cooperation. Furthermore, it was stated that China will maintain close contact with the US through the mechanism of further steps.