Chinese Foreign Minister Wang Yi said China and the United States, as the world’s two largest economies, both benefit from cooperation and both suffer from confrontation. He said the two sides’ economic and trade teams have reached new joint arrangements aimed at stabilizing bilateral economic ties and market confidence.
According to Wang Yi, the package includes the creation of a trade and investment council, the establishment of an agriculture working group, and reciprocal tariff cuts worth $30 billion. The remarks were cited by ChainCatcher in a brief market-related update.
The statement did not provide additional implementation details beyond the items listed, but it framed the new arrangements as a step that has helped steady China-U.S. economic and trade relations as well as broader market sentiment.
ChainCatcher reported that Wang Yi, a member of the Political Bureau of the Communist Party of China Central Committee and China’s foreign minister, said China and the United States, as the world’s two largest economies, both stand to gain from cooperation and both lose from confrontation.
Wang said the two sides’ economic and trade teams have reached new joint arrangements, including the establishment of a trade and investment council, the creation of an agriculture working group, and reciprocal tariff cuts worth $30 billion. He said those measures have stabilized bilateral economic and trade relations and market confidence.
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