Concerns About US Trade Law Section 301 Also Conveyed: On the 16th (local time), the Chinese trade representative announced that during trade negotiations with the United States, both countries agreed to stabilize tariff levels. They also discussed establishing a working mechanism to promote bilateral trade and investment cooperation and addressed issues related to the US ‘Section 301 investigations.’
According to Reuters, Li Chenggang, the International Trade Negotiation Representative and Vice Minister of Commerce, after concluding the second day of high-level economic and trade talks with the US in Paris, France, stated to reporters, “Both sides agreed to maintain tariff level stability.”
Li stated, “Both sides discussed new circumstances concerning bilateral tariffs and the possibility of extending tariff suspensions,” and shared opinions on the mechanism related to bilateral trade and investment.
Li also mentioned that the US and China agreed that a stable economic and trade relationship would benefit both countries and the world. The talks also covered the establishment of a working mechanism for promoting bilateral trade and investment, said Xinhua News Agency.
Furthermore, Li stated that China conveyed its position and concerns to the US regarding the investigations under the US Trade Law Section 301, which is addressing ‘forced labor product imports’ targeting China.
Scott Besant, Secretary of the Treasury, and other members of the US delegation, along with Chinese officials led by Vice Premier He Lifeng, met at the OECD headquarters in Paris for over six hours the previous day and continued with the second day’s talks.
This meeting also served as preliminary preparations for setting the agenda of the upcoming summit between President Trump and President Xi, scheduled at the end of the month. However, Li did not mention details concerning the summit.