The first meeting of the China-U.S. economic and trade consultation mechanism was held, and He Lifeng reiterated the mutually beneficial and win-win nature of China-U.S. economic and trade relations.

From June 9 to 10, local time, He Lifeng, the Chinese leader of China-US economic and trade and vice premier of the State Council, and the US leaders, U.S. Treasury Secretary Bessant, Commerce Secretary Luttnik, and Trade Representative Greer held the first meeting of the China-US economic and trade consultation mechanism in London, England. The two sides had a frank and in-depth dialogue, had an in-depth exchange of views on economic and trade issues of mutual concern, reached agreement in principle on the framework of measures to implement the important consensus reached by the two heads of state in the phone call on June 5 and to consolidate the results of the Geneva economic and trade talks, and made new progress in resolving each other’s economic and trade concerns.

He Lifeng stated that this meeting is an important consultation conducted under the guidance of the strategic consensus reached by the heads of state of the two countries on June 5th this year. China’s attitude and position on China-US economic and trade issues are clear and consistent. The essence of China-US economic and trade relations is mutual benefit and win-win cooperation; in the economic and trade field, cooperation benefits both sides, while conflict harms both.

There is no winner in a trade war, and China is reluctant to fight, but it is not afraid to fight either. The two sides should resolve economic and trade differences through dialogue on an equal footing and mutually beneficial cooperation. In the next step, the two sides should further give full play to the role of the China-US economic and trade consultation mechanism in accordance with the important consensus and requirements reached by the two heads of state in the phone call, and continue to enhance consensus, reduce misunderstandings and strengthen cooperation. China reiterates that the two sides should walk in the same direction, do what they say and do what they do, show good faith in abiding by their commitments and earnestly fulfilling their consensus, jointly safeguard the hard-won achievements of dialogue, continue to maintain communication and dialogue, promote the steady and long-term development of China-US economic and trade relations, and inject more certainty and stability into the world economy.

The U.S. side stated that this meeting has achieved positive results, further stabilizing the bilateral economic and trade relations. In accordance with the requirements of the talks between the two heads of state, they will work together with the Chinese side to jointly implement the consensus reached at this meeting.