MOFCOM BJT
A: Recently, the economic and trade teams of China and the U.S. held the eighth round of economic and trade consultations in the U.S. Guided by the important common understanding reached by the two heads of state and adhering to the principles of mutual respect, peaceful coexistence and win-win cooperation, the two sides had candid, in-depth and constructive exchanges on economic and trade issues of common concern, including the implementation of the consensus reached in previous economic and trade consultations, the reciprocal tariff reduction arrangements, the establishment of a Board of Trade and a Board of Investment, and the extension of joint arrangement reached at the economic and trade consultations in Kuala Lumpur, and reached multiple consensuses. Vice Premier He Lifeng and Treasury Secretary Scott Bessent, as the respective leads of China and the U.S., held their first dialogue on artificial intelligence (AI) under the China-U.S. economic and trade consultation mechanism. Going forward, China will maintain close communication with the U.S. on follow-up work under the China-U.S. economic and trade consultation mechanism.