Source: Global Times

[Global Times Special Correspondent Cao Shiyun in Malaysia Global Times Reporter Chi Jingyi and Han Wen] On October 26, the Sino-US economic and trade teams concluded two-day consultations in Kuala Lumpur, the capital of Malaysia. Guided by the important consensus reached by the two heads of state in previous calls this year, the two sides conducted candid, in-depth and constructive exchanges and consultations on important economic and trade issues of common concern, including U.S. Measures 301 on maritime logistics and shipbuilding with China, extension of the suspension period of reciprocal tariffs, fentanyl tariffs and law enforcement cooperation, agricultural product trade, and export controls, and reached basic consensus on arrangements to resolve their respective concerns. The two sides agreed to further determine specific details and implement their respective domestic approval procedures.

The results of this meeting were positively evaluated by all parties. Chinese President * will go to Gyeongju, South Korea from October 30 to November 1 to attend the 32nd Asia-Pacific Economic Cooperation (APEC) Leaders' Informal Meeting and pay a state visit to South Korea. The US also confirmed that US President Trump will visit South Korea. South Korea's East Asia Daily said that the eyes of the whole world will be focused on whether the heads of state of China and the United States will hold a meeting. South Korea's New Zealand News Agency said that the Sino-US trade conflict has a great impact on the world, and whether the leaders of the two countries can meet has attracted much attention.

After the consultation is completed, each of the next steps will fulfill the internal approval procedure.

From October 25 to 26, He Lifeng, the Chinese leader of Sino-US economic and trade and Vice Premier of the State Council, held Sino-US economic and trade consultations with the US leader, U.S. Treasury Secretary Basente and Trade Representative Greer in Kuala Lumpur.

Xi Jinping pointed out that the essence of China-US economic and trade relations is mutual benefit and win-win, the two sides are mutually beneficial and struggling, safeguard the stable development of China-US economic and trade relations, in line with the fundamental interests of the two countries and the people of the two countries, and also in line with the expectations of the international community. for the differences and frictions in economic and trade cooperation, the two sides should be based on the principle of mutual respect, peaceful coexistence, cooperation and win-win, through equal dialogue and consultation, to find ways to properly solve each other's concerns.

The US-China economic and trade relations are the world's most influential bilateral relations, and the US is willing to resolve differences, strengthen cooperation and common development with China through equality and respect.

Singapore's United Morning Post that the Sino-U.S. economic and trade team held a five-and-a-half-hour meeting on the 25th, and the talks continued on the 26th.

Li Chenggang said that China and the United States have reached preliminary consensus on a number of issues (video screenshot)

After the 26th meeting, China Ministry of Commerce International Trade Negotiations Representative and Deputy Minister Li Zhen Steel introduced that the discussions of the two sides included a number of topics, such as the issues of export control of the two sides, the issue of mutual tariffs further extended the suspension period, Fentanyl tariffs and Fentanyl anti-drug cooperation, further expanding the trade issue, the US side 301 ship charges related measures, etc., the two sides conducted constructive discussions on this, the U.S. side expressed a strong position, the Chinese side safeguarding interests is firm. After a very tense discussion of more than a day, the two sides on these topics constructively explored some of the options to properly handle the interests of both sides, formed a preliminary

According to Reuters, U.S. Treasury Secretary Bessent said on Monday that U.S. officials developed a "very successful framework" in the talks, "I think this framework is constructive and far-reaching, allowing us to continue to move forward and lay the foundation for the two leaders to meet on a very successful framework."

Bloomberg said that U.S. Trade Representative Greer said at the press conference that the Sino-U.S. trade negotiations were fruitful and involved various issues. "When it comes to extending the suspension period of reciprocal tariffs, it also talks about rare earths." The two sides are discussing the final details of a trade agreement proposal, which can almost be submitted to the leaders of the two countries for consideration.

On the 26th, U.S. President Trump told reporters during the ASEAN Summit in Kuala Lumpur that he was confident that he could reach "a very comprehensive agreement" with China.

¡°Tension has eased.¡±

According to Reuters, this is the fifth face-to-face consultation between Sino-US economic and trade teams since May this year. After the talks, Bescent said in an interview with the US media that after the two-day talks in Kuala Lumpur, the two sides reached a "very substantive framework agreement" and the US "no longer considers" imposing a 100% tariff on China.

Hong Kong's "South China Morning Post" commented on the 26th that the results of the talks between the two sides marked a relaxation of tensions between the world's two largest economies. The current suspension period for reciprocal tariffs between China and the United States will expire on November 10.

Zhou Mi, a researcher at the Research Institute of the Ministry of Commerce of China, told the Global Times reporter on the 26th that judging from the statements of officials from China and the United States, the game between the two sides is still very fierce during this consultation process. However, the results were still very fruitful. Both sides expressed their thoughts and attitudes on issues of mutual concern. Both sides stated that the areas of discussion were very broad and the discussions were constructive. This outcome is a very beneficial development direction for both sides. Whether final written results can be achieved in the future still needs further observation. Overall, this is very good news.

Because this consultation coincides with the APEC meeting, many observers link the two. Zhou Mi said that the consultation between China and the United States before APEC attracted the attention of the whole world. Because the United States has launched tariff wars not only against China, but also against many economies around the world. The content of Sino-US negotiations is relatively more extensive and complicated. The two sides have achieved certain results before APEC, a meeting to promote openness, which will release a more positive signal.

Flag of China and the United States (data map)

The British Broadcasting Corporation (BBC) said on the 26th that although there are multiple participants on the global trade stage, the key to the success or failure of American leaders lies in China. As the U.S. president admitted, imposing high tariffs on China imports is unsustainable. A trade war with China will have devastating consequences for the United States, China and the rest of the world. Whenever Sino-US relations reach a deadlock, major U.S. stock indexes fall sharply, highlighting this reality.

South Korea looks forward to visits by China leaders

South Korea, which will hold an upcoming APEC meeting, looks forward to the visit of China leaders. South Korea's "news1" news network stated that the visit of China leaders to South Korea will be an important node for the Lee Zai-ming government to "resume diplomacy with China." The two sides are expected to substantively restart the "strategic cooperative partnership" established in 2008 and hold comprehensive discussions on core issues. The article analyzed that if South Korea achieves certain results in its diplomacy with the United States, China and Japan this time,"practical diplomacy" will receive positive evaluations. On the contrary, it will inevitably be criticized as "empty-handed diplomacy."

APEC welcome sign on the streets of South Korea (Global Times ÁõÑó Éã)

This is the first time in history that the Chinese and U.S. heads of state visited South Korea for the first time simultaneously, according to the East Asian Daily. The article said that after the new U.S. government came to power, the world's leading free trade and multilateralism faced a larger crisis than ever before. Li in the second meeting between Lee and Trump could reach a Korean-American trade agreement is the most concerned issue for South Korea. But the two countries are still focused on the issue, so the possibility of an agreement is small. Because this agreement will bring a huge burden to the national economy, there is no reason to be willing to accept adverse conditions and rush to reach an agreement. The report also said that if China and U.S. can find a breakthrough to solve the trade conflict, it is also expected to have

"East Asia Daily" believes that no matter what, the world's attention will be on whether the heads of state of China and the United States will meet. This meeting will determine whether the "tariff truce" between the United States and China will end or extend, and will become an important opportunity to transcend the tariff war and compete in the direction of direction. The outcome of this APEC meeting, which discusses "connectivity, innovation, and prosperity" in the Asia-Pacific region, will also vary based on the outcome of the meeting between the United States and China. As the rotating presidency, South Korea should play a bridge role and find a balance point between the United States and China and even a contact point with APEC members.

Choi Tae-won, President of the Korea Chamber of Commerce and Industry and President of South Korea's SK Group, will chair this year's APEC Business Leaders Summit. According to a report by the Korea Herald on the 26th, Choi Tae-won said in an interview that day that affected by the drastic changes in U.S. tariff policies and the global economic order, the export-led economic growth model that has continued since the 1960s has become difficult to work in the current international trade environment with many tariff barriers."It is difficult for (the world) to return to the era of free trade under the (World Trade Organization) system." He believes that this APEC meeting will become an important indicator for measuring Sino-US relations,"it will become a barometer of the development of Sino-US relations in the next few years."

The Chinese ambassador to the United States, Xi Jinping, announced the spirit of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China during an event. In the next five years, China's innovation will accelerate, the "High Wall of the House" and the "Close Chain" will not stop China's pace of progress. In the next five years, China's opening doors will become bigger and bigger, at present, economic globalization will face "reverse flow", unilateralism and protectionism will grow, but China still firmly embrace economic globalization, adhere to opening up and promote reform and development, adhere to real multilateralism, share opportunities and common development with all countries in the world.