CHINA (OBSERVATORY) – The solution of the long-standing structural problems in the trade and economic relations between the US and China takes time, said Vice Premier of the State Council Liu He as a result of the trade negotiations in Washington.
“The consensus reached by the two sides was inevitable at the same time, but at the same time one must understand that no matter is being done in one day.The solution of the structural problems that exist in the trade and economic relations between China and the United States for many years now requires time”, – Liu He told reporters, whose words led the Xinhua News Agency.
He stressed that “the healthy development of trade and economic relations corresponds to the course of historical development, no one is able to resist it.”
“In the future, during the development of bilateral relations, new difficulties and new contradictions may arise in them, but we must remain calm, maintain dialogue and constructively solve them,” added Liu He.
In Washington on May 17 and 18 consultations were held between trade delegations of the United States and China. Based on the results of the joint statement, the parties agreed to take effective measures to reduce the trade deficit of the US trade balance with respect to trade with China, significantly increase the export of goods and services to China.
In particular, the parties agreed to “significantly increase the export of agricultural goods and energy.” The US will also send its delegation to China to study the details.
The parties also discussed the issues of “expanding trade in industrial goods and services,” and “consensus was reached on the need to create favorable conditions for expanding trade in these areas.” In addition, the US and China “agreed to encourage bilateral investment and strive to create a fair, equal playing field for competition.”