Home / International / Beijing Summit Agrees on Plan to Cut US-China Tariffs Worth USD 30 Billion

Beijing Summit Agrees on Plan to Cut US-China Tariffs Worth USD 30 Billion

beijing-summit-agrees-on-plan-to-cut-us-china-tariffs-worth-usd-30-billion

OUR DRIVE-China said President Donald Trump’s visit to Beijing earlier this month had resulted in progress on tariffs, trade mechanisms and educational exchanges, despite ongoing tensions over Taiwan and technology restrictions.

China’s Deputy Ambassador to the United States, Qui Wenxing, described the recent summit between Trump and Chinese President Xi Jinping as “historic and successful”.

Qui said Beijing believed the summit marked “a significant step towards good relations between China and the US in a new era”.

Also Read: Today’s Horoscope: Aquarius is full of creative ideas, Pisces is more sensitive

He structured the summit around three themes, namely “mutual respect”, “strategic stability” and “win-win outcomes”.

“China and the US are two big countries,” Qui told a group of journalists. “President Xi and President Trump actually respect each other and have maintained close communication.”

He added that Beijing believes that “achieving the great revival of the Chinese nation and making America great again can go hand in hand.”

Also read: Samsung will increase cellphone prices as RAM prices continue to soar

According to Qui, the two leaders agreed to pursue “a constructive China-US relationship based on strategic stability”, which he said would guide bilateral relations “over the next three years and beyond”.

“We believe that cooperation is the main pillar,” he said. “Of course, there is competition in the field of economics and trade, but we cannot define this relationship by competition.”

Qui said China opposes treating bilateral relations through a “zero-sum game” approach and called for differences to be managed “in a constructive manner”.

Also Read: Huawei MatePad Pro Max Launches to Global Market, Featuring Super Thin Design and 144Hz OLED Screen

“We want to do everything we can to avoid conflict and confrontation between us, because conflict and confrontation will produce consequences that no one can bear,” he said.

The deputy ambassador rejected criticism that the summit failed to produce concrete results. “In fact, this summit has produced many real and concrete results,” Qui said.

He mentioned some of the economic understandings reached during the talks, including discussions on reciprocal tariff reductions involving products worth “30 billion US dollars or even more on each side”.

Also Read: Robert Pattinson Becomes a Predator Hunter in a Primetime Film

Qui said the two governments also agreed to establish an intergovernmental trade and investment council, work to resolve non-tariff barriers and market access issues, and study ways to address supply chain issues involving rare earth minerals and critical materials.

He added that China had agreed to buy 200 Boeing planes and said there was still “potential for Chinese companies to buy more if conditions are right”.

In the educational exchange program, Qui highlighted President Xi’s initiative to invite 50,000 American students to study or travel in China over five years.

Also Read: Acer Aspire 5 AI Specifications: Equipped with Intel Core Ultra Processor and Copilot Plus Feature

The Chinese diplomat also said that Beijing and Washington had agreed to support each other in holding upcoming international summits, including APEC and the G20.

Qui confirmed that Xi had accepted Trump’s invitation to visit the United States this fall, although a date had not been set.

The latest Trump-Xi summit comes amid ongoing friction between Washington and Beijing over tariffs, technology restrictions, Taiwan and strategic competition in the Indo-Pacific region.

Also Read: Drake Shifts Domination of Taylor Swift and Jay-Z Records, Cleans Up Top 3 Billboard 200

Despite the dispute, both governments have recently signaled interest in maintaining high-level engagement and preventing further deterioration of relations.***

Tagged:

Leave a Reply

Your email address will not be published. Required fields are marked *