{"id":123733,"date":"2025-10-27T07:10:03","date_gmt":"2025-10-27T07:10:03","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2025\/10\/27\/china-us-reach-preliminary-consensus-at-key-trade-talks-in-malaysia\/"},"modified":"2025-10-27T07:10:03","modified_gmt":"2025-10-27T07:10:03","slug":"china-us-reach-preliminary-consensus-at-key-trade-talks-in-malaysia","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/china-us-reach-preliminary-consensus-at-key-trade-talks-in-malaysia\/","title":{"rendered":"China, US reach \u2018preliminary consensus\u2019 at key trade talks in Malaysia"},"content":{"rendered":"

BEIJING, China, Oct 27 \u2014 China and the United States have reached \u201cpreliminary consensus\u201d on key issues, including tariff suspension, trade in agricultural products and export controls, after two days of \u201cconstructive\u201d trade talks in Malaysia over the weekend.<\/strong><\/p>\n

A statement released on Sunday following the conclusion of the fifth round of trade talks since May said that officials representing China and the US held \u201cfrank, in-depth and constructive\u201d exchanges on key trade issues of mutual concern.<\/p>\n

China and the US gain from cooperation and lose from confrontation, Chinese Vice-Premier He Lifeng said after meeting with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer in Kuala Lumpur on Saturday and Sunday.<\/p>\n

He noted that when economic and trade frictions appear, both countries should uphold the principles of mutual respect, peaceful coexistence and win-win cooperation to properly address each other\u2019s concerns through equal-footed dialogue and consultation.<\/p>\n

The US should work with China toward the same direction, to further build up trust, manage differences, expand mutually beneficial cooperation, and promote bilateral economic and trade relations to a higher level, the vice-premier added.<\/p>\n

The talks addressed various issues, including the US\u2019 Section 301 measures targeting China\u2019s maritime, logistics and shipbuilding sectors, extension of the reciprocal tariff suspension, fentanyl-related tariffs and law enforcement cooperation, trade in agricultural products, and export controls, the statement said.<\/p>\n

A preliminary consensus was reached about arrangements to address each other\u2019s concerns, with both sides agreeing to further work out the specifics and follow their respective domestic approval processes.<\/p>\n

Li Chenggang, China\u2019s international trade representative at the Ministry of Commerce, told a news conference on Sunday that while the US presented its position firmly, China remained resolute in safeguarding its interests.<\/p>\n

\u2018Hard-won relative stability\u2019<\/h2>\n

Li said that China has strictly followed the consensus reached in multiple phone conversations between the two heads of state, earnestly implementing the outcomes of economic and trade consultations, and carefully safeguarding the \u201chard-won relative stability\u201d in bilateral relations. \u201cThe recent fluctuations and disruptions are not what China wishes to see,\u201d he added.<\/p>\n

The latest round of trade talks took place at a tense time when Washington\u2019s imposition of new restrictions prompted resolute countermeasures from Beijing, shattering months of relative calm.<\/p>\n

The two countries had reached a trade truce in May, agreeing to roll back triple-digit tariffs, which was later extended to Nov 10.<\/p>\n

However, at the end of September \u2014 mere weeks after the fourth round of trade negotiations in Spain yielded progress in stabilizing ties \u2014 the US expanded its export controls on advanced technology to China. This was followed by imposition of additional port fees on Chinese-built and Chinese-operated ships earlier this month.<\/p>\n

The administration of US President Donald Trump, in retaliation for Beijing\u2019s tightened restrictions on rare earth exports for military applications, also vowed to impose 100 percent additional tariffs on Chinese goods and export controls on \u201cany and all critical software\u201d effective next month.<\/p>\n

Weakened trust <\/h2>\n

Gao Lingyun, a researcher at the Chinese Academy of Social Sciences\u2019 Institute of World Economics and Politics, said that consensus cannot last if the US continues to weaken the trust it is built upon with its unilateral and protectionist actions.<\/p>\n

It\u2019s crucial for the US to work with China to take concrete actions and faithfully honor their commitments made during these talks, thereby creating conditions for further dialogue and cooperation that will benefit the two countries and the world at large, Gao added.<\/p>\n

Observers are also closely watching to see whether the two economic heavyweights extend their \u201ctariff truce\u201d, which is set to expire on Nov 10, while hoping to see broader cooperation between the two countries.<\/p>\n

Extended truce <\/h2>\n

Sean Stein, president of the US-China Business Council, told China Daily that he hoped that both sides would agree to further extend the tariff truce. <\/p>\n

Stein cautioned that it was better not to have high expectations from the China-US dialogue in the short term. \u201cIt should set us up for a better, longer-term trade relationship,\u201d he added.<\/p>\n

\u201cThe US and China are the world\u2019s two largest economies, the world\u2019s two most technologically advanced economies, and the world\u2019s two most dynamic economies,\u201d he said, adding that \u201cthere are a lot of things that we need to get right on the economic front\u201d.<\/p>\n

Former US treasury secretary Robert E. Rubin said that the better way would be to have \u201can open trading system\u201d between the US and China, as well as involving the rest of the world. <\/p>\n

\u201cChinese people have a very strong history of technological innovation, and in time they\u2019ll get where they need to be,\u201d Rubin said on the sidelines of the 2025 Bund Summit in Shanghai earlier this week.<\/p>\n

Rubin said that if the two countries can work together on artificial intelligence in an open trading system, the results would be \u201cadvantageous\u201d.<\/p>\n

Despite the recent escalation in tensions between the two countries, many US businesses remain optimistic about their future in the Chinese market. <\/p>\n

\u201cThe Chinese market remains our No 1 priority in the Asia-Pacific region,\u201d said Steven Sare, managing director for the Asia-Pacific of US apparel and accessories retailer Abercrombie & Fitch.<\/p>\n

For more visit\u00a0China Daily<\/a><\/p>\n

For subscriptions on news from China Daily, or inquiries, please contact China Daily Africa Ltd on +254 20 6920900 or write to enquiries@chinadailyafrica.com<\/p>","protected":false},"excerpt":{"rendered":"

BEIJING, China, Oct 27 \u2014 China and the United States have reached \u201cpreliminary consensus\u201d on key issues, including tariff suspension, trade in agricultural products and export controls, after two days of \u201cconstructive\u201d trade talks in Malaysia over the weekend. A statement released on Sunday following the conclusion of the fifth round of trade talks since […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-123733","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/123733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=123733"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/123733\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=123733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=123733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=123733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}