According to the spokesperson, both sides agreed to continue implementing outcomes reached in previous rounds of consultations and achieved positive consensus on related tariff arrangements.
The two countries agreed to establish a Trade Council and an Investment Council to address bilateral concerns on an equal footing. They will work toward resolving or substantially advancing issues related to non-tariff barriers and market access for selected agricultural products, the spokesperson added.
China and the US also agreed to promote the expansion of two-way trade, including agricultural exports, through mutual tariff reductions on a range of goods.
In addition, the two sides reached arrangements concerning China’s aircraft purchases from the US, while Washington provided assurances on the supply of aircraft engines and components to China. The two countries also agreed to deepen cooperation in related sectors.
