China and the United States have agreed to deepen economic coordination through their trade consultation mechanism, signaling progress in addressing long-standing disputes and fostering mutual trust. The announcement follows the first meeting of the bilateral working group established after a June 5 phone call between the Chinese and U.S. heads of state.
Progress on High-Tech and Trade Concerns
Ministry of Commerce spokesperson He Yadong confirmed Thursday that both sides reached a principled agreement to implement measures discussed during recent talks in Geneva. While not disclosing specifics about U.S. high-tech export restrictions, He emphasized “new progress” in resolving economic concerns through dialogue.
Rare Earth Exports: Balancing Global Needs
China approved multiple rare earth export licenses this week, with He stating the country “fully considers the reasonable demands of other countries in civilian applications.” The ministry pledged to continue streamlining approvals for compliant applications while maintaining rigorous regulatory reviews – a move analysts say could stabilize global supply chains for electronics and renewable energy sectors.
Next Steps in Economic Coordination
The enhanced consultation mechanism aims to reduce misunderstandings through structured dialogue, building on agreements made during high-level exchanges. Observers note the developments could ease tensions in critical sectors as both economies navigate complex global market conditions.
