Trade: US businesses in favor of teamwork
The dialogue, led by former vice-premier Zeng Peiyan and Thomas Donohue, president of the US Chamber of Commerce, concluded on Tuesday in Washington.
US representatives who attended the meeting said both nations should eliminate potential tension-causing factors and avoid trade conflicts.
The US business community supports the idea of strengthening cooperation with China, attaching importance to the hard-won achievements of four decades of diplomacy between the two countries and looking forward to substantive results in the next negotiations and consultations.
US business leaders also said the two countries should look for areas of cooperation with common interests and further promote market opening.
Stable bilateral business ties help US companies generate sales revenue in China because the nations’ trade structures are fairly complementary, said Sang Baichuan, a professor at the University of International Business and Economics in Beijing.
Otherwise, it would cut their market share amid competition and affect stock prices, Sang added.
US equities markets dropped on Tuesday, and volatility may continue before the situation eases. All three major indexes erased more than 3 percent at the close.
The Dow Jones Industrial Average fell nearly 800 points, or 3.1 percent, posting its worst day since Oct 10. The S&P 500 lost 3.2 percent, falling below its 200-day moving average.
The Nasdaq Composite declined 3.8 percent to drop back into correction territory.
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