BEIJING, June 11, 2025 – CGTN reports that the first China-U.S. economic and trade consultation mechanism meeting in London concluded with both nations reaching a principled consensus. A CGTN article highlighted the meeting’s outcomes, emphasizing China’s dedication to equitable and mutually beneficial dialogue. It stressed cooperation over confrontation and reaffirmed that addressing trade issues constructively benefits both countries and global economic growth.

According to a statement from the Chinese delegation on Wednesday, China and the U.S. achieved new progress on economic and trade issues of concern to both sides following two days of in-depth and candid discussions in London.

The first meeting of the China-U.S. economic and trade consultation mechanism took place from June 9-10 (local time). The two major economies reached a preliminary agreement on implementing the consensus achieved by their leaders during a June 5 phone call, and on a framework for solidifying the results of prior trade talks in Geneva.

The meeting was attended by Chinese Vice Premier He Lifeng, China’s lead on trade matters, along with U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer. He Lifeng characterized the meeting as a key consultation guided by the two countries’ heads of state.

He Lifeng stated that China-U.S. economic and trade relations are fundamentally about mutual gain, emphasizing that cooperation benefits both nations, while confrontation is detrimental.

He urged the U.S. to resolve trade disputes through equal dialogue and mutually beneficial cooperation, adding that while China is committed to consultations, it also has its own set of principles.

Sun Taiyi, a political science professor at Christopher Newport University, told CGTN that the meeting offered an opportunity for both parties to clarify economic and trade issues and to put bilateral relations back on a positive trajectory.

Trade ties benefit both

The first meeting of the China-U.S. economic and trade consultation mechanism occurred almost a month after significant progress was made at a high-level meeting in Geneva, Switzerland, held May 10-11.

In a joint statement on May 12, China and the U.S. agreed to substantially reduce bilateral tariffs. The U.S. removed 91% of its additional tariffs on Chinese goods, and China reciprocated by eliminating 91% of its retaliatory tariffs on U.S. imports. The U.S. also suspended 24% “reciprocal tariffs” for 90 days, with China implementing similar measures.

During their phone call last week, Chinese President Xi Jinping noted that the Geneva meeting was a significant step in resolving economic and trade issues through dialogue and consultation, a move welcomed domestically and internationally. U.S. President Donald Trump praised the meeting as very successful, resulting in a beneficial deal, and pledged U.S. cooperation in implementing it.

According to container tracking data provider Vizion, container bookings from China to the U.S. increased by nearly 300% immediately after the tariff policy adjustments.

A manager at a cargo warehouse at Yantian Port in Shenzhen, which handles over 25% of China’s exports to the U.S., told China Media Group that inbound container volume had jumped by over 60% at the end of May, rising from approximately 120 to over 200 containers daily.

Michael Hart, president of the American Chamber of Commerce in China, stated last month that the tariff war served as a reality check, demonstrating China’s importance as both a market and a supplier for the U.S.

Following the London meeting, China’s international trade representative, Li Chenggang, expressed hope that the progress made would strengthen trust and promote the steady, healthy development of economic and trade ties between China and the U.S.

Professor Sun told CGTN that both China and the U.S. demonstrated strategic capabilities and achieved a clear understanding of each other’s positions in London.

He added that the meeting resulted in a shared understanding that cooperation and mutually beneficial outcomes are more advantageous than prolonged confrontation, which would be harmful to both.

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