Xinhua Commentary: Safeguarding the Healthy, Stable, and Sustainable Development of China-US Economic and Trade Relations

Xinhua News Agency, Beijing, March 15
Topic: Maintaining the healthy, stable, and sustainable development of Sino-US economic and trade relations
Xinhua News Agency reporter
A new round of China-US economic and trade consultations is imminent. Amidst a sluggish global economic recovery and a complex international landscape, the international community generally expects China and the United States to move in the same direction, injecting more certainty and stability into their economic and trade cooperation as well as the world economy.
Since last year, the two heads of state have taken practical actions and maintained good exchanges at the highest level, providing important strategic guarantees for the improvement and development of China-US relations, and also promoting the overall stability of China-US relations after experiencing ups and downs.
China and the United States have conducted five rounds of economic and trade consultations, achieving a series of positive outcomes. This fully demonstrates that to ensure the two giant ships of China and the United States move forward together without deviating from the course or losing speed, it is imperative to unwaveringly adhere to the strategic guidance of the two presidents, faithfully implement the important consensus reached by them, and maintain the principles of mutual respect, peaceful coexistence, and win-win cooperation. Both sides should jointly implement and uphold the consensus reached by the two presidents, properly manage differences through equal consultation, expand pragmatic cooperation, and maintain the healthy, stable, and sustainable development of China-US economic and trade relations.
The achievements made in the previous five rounds of economic and trade consultations also prove that as long as both sides uphold the spirit of equality, respect, and mutual benefit, and engage in equal dialogue and consultation, they can find solutions to economic and trade differences. During the latest Kuala Lumpur consultation, both sides reached a series of consensus outcomes on the US Section 301 measures against China's maritime logistics and shipbuilding industry, extending the reciprocal tariff suspension period, fentanyl tariffs and law enforcement cooperation, agricultural trade, export control, etc. Subsequently, the Chinese and US economic and trade teams have maintained close communication at all levels through the economic and trade consultation mechanism, exchanging views in a timely manner on implementing the consensus reached by the two presidents at the Busan summit and the outcomes of the Kuala Lumpur economic and trade consultations, as well as addressing each other's concerns in the economic and trade fields.
Addressing the long-standing structural contradictions and deep-seated differences in China-US economic and trade relations cannot be achieved overnight. Since the beginning of this year, some new developments have emerged. The US announced the imposition of import surcharges on goods from all countries and regions under Section 122. Subsequently, the US has successively launched Section 301 investigations against 16 economies, including China, and 60 economies, respectively, on the grounds of "overcapacity" and "failure to prohibit the import of forced labor products," causing global trade uncertainty to rise again. China is closely monitoring and will comprehensively assess the relevant measures taken by the US. China reserves the right to take all necessary measures and firmly defends its legitimate rights and interests. The key to whether the upcoming new round of economic and trade consultations can make positive progress lies in whether the US can uphold a rational and pragmatic understanding of China, and act in accordance with the principles of mutual respect, peaceful coexistence, and win-win cooperation, and truly move in the same direction as China in action.
The common sense that "cooperation benefits both China and the United States, while confrontation harms both" has been repeatedly verified through practice. The reality of "mutual achievements and common prosperity" between China and the United States is visible and tangible. The new round of economic and trade consultations presents both opportunities and challenges. Both sides should take a long-term perspective, focus on the long-term benefits brought by cooperation, uphold an attitude of equality, respect, and mutual benefit, expand the list of cooperation and narrow the list of issues, strive for more positive progress, open up new space for cooperation in China-US relations, and better benefit the people of both countries and the world.