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China and the US ‘have reached consensus’ on trade, vice-premier declares

CHINESE Vice-Premier Liu He announced in Washington at the weekend that China and the United States have reached consensus on economic and trade issues, pledging not to engage in a trade war.

Mr Liu, who heads the Chinese side of the China-US comprehensive economic dialogue, was in Washington at the invitation of the US government.

He revealed on Saturday that the two sides had agreed not to launch a trade war and to stop slapping tariffs on each other’s exports.

Noting that his visit had been positive, pragmatic, constructive and productive, Mr Liu explained that the most important reason for its achievements was the consensus reached previously by Xi Jinping and Donald Trump.

Both sides will enhance trade co-operation in energy, agriculture products, healthcare, high-tech products and finance, he said.

Such co-operation is a win-win choice as it can promote high-quality development of the Chinese economy, meet people’s needs and help the US reduce its trade deficit, he added.

The two states will also strengthen co-operation in mutual investment and intellectual property protection, Mr Liu said.

This, he added, not only benefits both nations but also helps support the stability and prosperity of the global economy and trade.

He underlined that China, with a large middle-income population, will become the world’s largest market and will be highly competitive.

The Chinese deputy premier insisted that nations seeking to enter the market would have to improve the competitiveness of their products and service to attract Chinese customers.

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