Chinese Trade: Beijing, Washington held professional, candid trade talks
Beijing - Saba:
Li Zhenggang, Chinese Vice Minister of Commerce, confirmed on Wednesday that his country and the United States held in-depth, rational, professional, and candid trade talks.
Chinese state television quoted Zhenggang as saying at the conclusion of two days of intensive negotiations in London: "The two sides (the United States and China) held professional, rational, in-depth, and candid talks."
He explained that China and the United States agreed on a "basic framework for implementing the consensus reached by the leaders of the two countries during a telephone conversation on June 5, as well as during the trade talks between the two sides in Geneva."
For his part, US Secretary of Commerce Howard Lutnick stated that "US and Chinese officials have agreed on a framework to suspend reciprocal trade measures and resolve Chinese export restrictions on rare earth minerals and magnets."
US President Donald Trump had previously announced that these talks represent an attempt to resolve trade disputes between Washington and Beijing after the recent round of tensions that have plagued their bilateral relations.
White House spokeswoman Caroline Leavitt announced last Friday that the phone call between President Trump and his Chinese counterpart, Xi Jinping, was productive and useful, and that Washington maintains its strategic interests in China's economy and market.
Trump previously announced that Washington and Beijing are working to resolve the dispute over rare earth mineral supplies, and that teams from the two countries will meet to discuss the issue.
The Chinese president stated that Washington must be cautious on the Taiwan issue and not allow pro-independence separatists to drag Beijing and Washington into conflict.
The United States and China agreed to suspend mutual 24% tariffs for 90 days, a move aimed at calming tensions after the two countries imposed heavy tariffs on each other's imports.
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