Through this round of economic and trade talks between China and the United States, the two sides reached preliminary consensus on some issues, said Li Chenggang, China international trade representative with the Ministry of Commerce and vice minister of commerce.

He made the remarks while briefing the press on Monday, stating the two sides held in-depth, candid and constructive exchanges over the past day and a half and will continue to maintain the consultation process.

Li said the discussions covered topics including bilateral tariff levels under the new circumstances and the possible extension of existing tariffs and related non-tariff measures. The US side briefed China on its latest tariff adjustments and future considerations, while China expressed concern over the uncertainty they may create, he said.

He said that both sides agreed to work together to maintain the stability of bilateral economic and trade relations and discussed the idea of establishing a bilateral working mechanism to promote cooperation in trade and investment.

Regarding the US restrictions on Chinese trade and investment, particularly the recent initiation of two Section 301 investigations involving China, Li stressed that China’s position has been consistent and that it opposes such unilateral probes.

“We are concerned about the possible interference and damage that the results of such investigations might have on the hard-won stability of China-US economic and trade relations,” said Li.

He added that China will closely follow the developments of these investigations and take timely measures to safeguard its legitimate rights and interests.

He expressed the hope that the US side will honor its commitments and work together with China to facilitate a long-term, steady China-US trade and economic relationship.

Li also emphasized that both sides agreed that stable bilateral economic and trade relations benefit not only China and the United States but also the world at large.