China and the United States will create a mechanism for consultations on trade issues

The People's Republic of China (PRC) and the United States will establish a mechanism for consultations on trade issues following the talks held in Geneva. This was announced on May 12 by the press service of the Ministry of Commerce of China.

It is noted that negotiations on trade and economic issues lasted from May 10 to May 11. The Chinese side was represented by Vice Premier of the State Council of the People's Republic of China He Lifeng, and the American side was represented by US Treasury Secretary Scott Bessent.

"The parties agreed to establish a mechanism for economic and trade consultations between China and the United States. China and the United States will finalize the relevant details as soon as possible," the agency's official website says, specifying that all details of the upcoming mechanism will be determined and announced in the near future.

According to the ministry, following a conversation with his American colleagues, He Lifeng stressed that the dialogue was deep and productive. According to him, the parties have managed to achieve significant progress.

The Ministry of Commerce of the People's Republic of China noted the international interest in the results of the meeting and announced a joint statement by the heads of delegations, which will be made on May 12.

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If the parties do not agree, it will affect the entire global trade.

On May 11, US President Donald Trump announced a complete reset of US-China relations, which took place in a friendly and productive manner. Trump praised the negotiations with China, calling them very good, and noted that he wants to see the result of the concluded "pleasant" agreements, as they will act for the benefit of the United States and China.