China and the United States issued a joint statement! Announced the formal ceasefire of the trade war! !
In the early hours of Beijing time today (20th), China and the United States issued a joint statement in the United States, marking that the Sino-U.S. trade war officially ended and the ceasefire! China and the United States issued a joint statement on bilateral trade negotiations in Washington on the 19th. The joint statement is as follows: According to the instructions of President Xi Jinping and President Trump, from May 17th to 18th, 2018, the Chinese delegation led by Chairman Xi Jinping’s special envoy and vice-premier Liu He, and representatives from the Ministry of Finance, Mr. Mukuchin, Secretary of Commerce Ross, and trade representatives. The U.S. delegation of members such as Letsigze has conducted constructive consultations on trade issues. The two sides agreed that effective measures will be taken to substantially reduce the US trade deficit with China’s goods. In order to meet the growing consumer demand of the Chinese people and promote high-quality economic development, China will greatly increase the purchase of goods and services from the United States. This also helps the U.S. economic growth and employment. The two sides agreed to meaningfully increase the export of US agricultural products and energy. The US will send a delegation to China to discuss specific issues. The two sides discussed the expansion of manufacturing products and services, and reached consensus on creating favorable conditions for increasing trade in the above-mentioned areas. The two sides attach great importance to the protection of intellectual property rights and agreed to strengthen cooperation. China will promote the revision of relevant laws and regulations, including the Patent Law. Both parties agree to encourage two-way investment and will strive to create a fair and competitive business environment. The two sides agreed to continue to maintain high-level communication in this regard and actively seek solutions to their respective economic and trade issues.