China says trade talks with U.S. serve interests of both sides

Updated 2018-05-22 09:38:02

Consensus that China and the U.S. reached during trade talks serves the interests of both sides, Chinese Ministry of Foreign Affairs (MOFA) said at a regular press conference on Monday.

Both countries realized economic and trade issues can be resolved through negotiations. This is the biggest outcome of this round of trade talks, MOFA added.

"Just as Vice Premier Liu He said…the biggest outcome and consensus reached by the two sides was that both realized bilateral trade issues must be resolved through negotiations to avoid the mutual tariffs imposed against each other," said MOFA spokesman Lu Kang.

"Over the past 40 years, the fundamental reason why both sides can manage their disputes and promote the continuous development of bilateral economic and trade relations, is that it is in the common interest of the two countries and the two peoples," Lu added.

The remarks come after the world's two largest economies issued a joint statement on Saturday.

Both countries have agreed to stop slapping tariffs on each other. The two countries will work to decrease the U.S. deficit in goods with China. They also emphasized the importance of improving intellectual property protection for high-tech products.

Both sides pledged to maintain high-level trade talks, and U.S. Secretary of Commerce Wilbur Ross will visit China in the near future.

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