China-US trade talks yield positive outcomes

China's Ministry of Commerce said on Saturday that China and the United States have achieved positive outcomes in their economic and trade consultations.

When responding to media inquiries, a spokesperson for the ministry outlined five areas of initial outcomes achieved by the two countries' economic and trade teams during their recent consultations.

First, the two sides will continue to implement the results of previous consultations and have reached a positive consensus on relevant tariff arrangements. Second, both sides agree to establish a Trade Council and an Investment Council to discuss respective concerns in trade and investment. Through the Trade Council, they will discuss issues such as tariff reductions on products, agreeing in principle to reduce tariffs on a reciprocal scale of products of mutual concern.

Third, both sides will resolve or make substantial progress on non-tariff barriers and market access issues for certain agricultural products. The US side will actively work to address China's longstanding concerns regarding automatic detention of dairy and aquatic products, export of bonsai plants, and recognition of Shandong province as a disease-free zone for avian influenza. China will also actively address US concerns regarding the registration of beef facilities and the export of poultry meat from certain US states.

Fourth, both sides agree to expand two-way trade, including in agricultural products, through reciprocal tariff reductions on a defined range of products. Fifth, the two sides have reached relevant arrangements on China's purchase of aircraft from the US and the US commitments to ensure the supply of aircraft engines and components to China, and agree to continue cooperation in related fields.