China, U.S. Agree to Establish Trade Council and Investment Council on May 15

According to Xinhua, China and the United States agreed to establish a Trade Council and an Investment Council during their leaders' meeting on May 15. The two countries' economic teams reached balanced and positive outcomes, including resolving each other's concerns over agricultural product market access and promoting expanded bilateral trade under an equivalent tariff reduction framework. Both sides' working teams are continuing negotiations on relevant details and will finalize results soon.
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