Chinese vice-premier urges US to honor trade commitments

Chinese Vice-Premier He Lifeng called on the United States to honor its commitments and uphold the hard-won achievements made during the first meeting under the China-US economic and trade consultation mechanism, held in London from Monday to Tuesday.

New progress has been made in addressing the economic and trade concerns of both countries during the talks, according to a report by Xinhua News Agency on Wednesday.

The two sides engaged in candid and in-depth dialogues, exchanged views on various economic and trade issues, and reached a framework for implementing the consensus reached by the two heads of state during their phone call on June 5 and the Geneva meeting in May, according to Xinhua.

He, who is also China's lead person for China-US economic and trade affairs, co-chaired the meeting with his US counterparts - Treasury Secretary Scott Bessent, as well as Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

China's position and stance on China-US economic and trade issues are clear and consistent. The essence of China-US economic and trade relations is mutual benefit and win-win cooperation, He said.

In the economic and trade realm, cooperation brings benefits to both sides, while conflict hurts them both. There are no winners in a trade war, and China does not wish to engage in one, but neither does it fear doing so, He added.

The two sides should resolve their economic and trade differences through equal dialogue and mutually beneficial cooperation, He said, stressing that China is sincere and principled in its approach to the economic and trade consultations.

The two sides should work toward the same direction, match words with actions and follow through on commitments, He said.

Both countries must demonstrate good faith and make concrete efforts to uphold the hard-won dialogue achievements, maintain communication, and guide the China-US economic and trade relationship toward steady and long-term development, injecting more certainty and stability into the global economy, He added.

The US side noted that the latest meeting achieved positive results, further stabilizing bilateral economic and trade relations. The US will work with China to implement the consensus reached at the meeting, as required by the two countries' leaders.