Bei­jing hails Trump-Xi sum­mit, of­fers no de­tails

Business World - - The World -

BEI­JING — The sum­mit be­tween Pres­i­dent Xi Jin­ping and his US coun­ter­part Don­ald Trump in Ar­gentina was “friendly and can­did” and would help to avoid fur­ther trade ten­sions, a se­nior Chi­nese diplo­mat said on Thurs­day, but of­fered no new de­tails on the talks.

The two lead­ers held high stakes dis­cus­sions on the side­lines of the G20 meet­ing in Buenos Aires last week and agreed to a cease­fire in their trade war.

State Coun­cil­lor Wang Yi, the Chi­nese gov­ern­ment’s top diplo­mat, said the talks about trade fric­tions had been ex­tremely pos­i­tive and con­struc­tive, help­ing reach a con­sen­sus that worked for both China and the United States.

Messrs. Xi and Trump had “deep ex­changes in a friendly and can­did at­mos­phere,” set­ting the di­rec­tion for an ap­pro­pri­ate res­o­lu­tion to the prob­lems be­tween the two coun­tries, Mr. Wang said, in a state­ment car­ried on the for­eign min­istry’s web­site.

“The two sides agreed to jointly pro­mote Sino-US re­la­tions based on co­or­di­na­tion, co­op­er­a­tion and sta­bil­ity, and pro­mote ex­changes and co­op­er­a­tion in var­i­ous fields in the two coun­tries to achieve even more re­sults,” he added.

“The dis­cus­sions on eco­nomic and trade is­sues be­tween the two sides were very pos­i­tive and con­struc­tive, and reached a prin­ci­pled con­sen­sus.”

That con­sen­sus in­cluded pre­vent­ing trade fric­tions from spread­ing, re­turn­ing to di­a­logue to re­solve is­sues, and a joint goal of co­op­er­a­tion to ben­e­fit the global economy, Mr. Wang said.

“All of th­ese help to safe­guard China’s le­git­i­mate in­ter­ests, and are also in the in­ter­ests of the United States, and even more are in line with the ex­pec­ta­tions of the in­ter­na­tional com­mu­nity,” he added.

The two coun­tries have hit each other with tit-for-tar­iffs on goods worth hun­dreds of bil­lions of dol­lars in sec­tors from au­to­mo­biles to agriculture and en­ergy, stymy­ing trade and re­draw­ing global sup­ply chains.

The United States has levied ad­di­tional du­ties of 10-25% on $250 bil­lion of Chi­nese goods this year as pun­ish­ment for what it calls China’s un­fair trade prac­tices. China has re­sponded with its own tar­iffs. But as part of the truce agreed to by Messrs. Xi and Trump, the United States will not raise tar­iffs fur­ther on Jan. 1, so fur­ther talks can take place.

Mr. Wang said the facts will prove that the com­mon in­ter­ests be­tween China and the United States are greater than our dif­fer­ences, and co­op­er­a­tion needs to be greater than fric­tion. But he of­fered no new de­tails on what China had agreed to with the United States.

China ex­pressed con­fi­dence on Wed­nes­day that it can reach a trade deal with the United States, a sen­ti­ment echoed by Mr. Trump a day af­ter he warned of more tar­iffs if the two sides could not re­solve their dif­fer­ences. —

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