The Ministry of Commerce presented the consensus on the outcomes of the China-US Kuala Lumpur Economic and Trade Consultation

The Ministry of Commerce of China introduces the consensus on the results of the Sino-US Kuala Lumpur Economic and

China news agency, Beijing, October 30 (Reporter Yin Qianyun) When answering reporters 'questions on the joint arrangement of Sino-US economic and trade consultations in Kuala Lumpur on the 30th, a spokesperson for the Chinese Ministry of Commerce said that the United States will cancel the 10% so-called "fentanyl tariff" imposed on Chinese goods (including the Hong Kong Special Administrative Region and Macao Special Administrative Region goods, the same below), and the 24% equivalent tariff on Chinese goods will continue to be suspended for one year. China will adjust its countermeasures against the above-mentioned US tariffs accordingly.

The spokesman said that the heads of state of China and the United States held a meeting in Busan, South Korea, discussed in-depth issues such as Sino-US economic and trade relations, and agreed to strengthen cooperation in economic and trade and other fields. China is willing to work with the United States to jointly safeguard and implement the important consensus reached during the meeting between the two heads of state.

According to the spokesman, the consensus reached by the Sino-U.S. economic and trade team through the consultations in Kuala Lumpur mainly includes the following aspects:

The US will abolish the so-called "Fentanyu tariff" on 10% of Chinese goods, and the 24% mutual tariff on Chinese goods will continue to be suspended for one year.China will adjust the countermeasures against the US tariffs accordingly.

2. The United States will suspend the implementation of its 50% export control penetration rule announced on September 29 for one year. China will suspend the implementation of relevant export control measures announced on October 9 for one year, and will study and refine specific plans.

3. The United States will suspend the implementation of its 301 investigation measures on China's maritime, logistics and shipbuilding industries for one year. After the United States suspends the implementation of relevant measures, China will also suspend the implementation of countermeasures against the United States for one year accordingly.

In addition, the two sides also reached a consensus on Fintech anti-drug cooperation, expanding trade in agricultural products, and dealing with individual cases of related enterprises.The two sides further confirmed the achievements of the Madrid economic and trade consultation, and the United States made a positive commitment in investment and other fields, and China will properly solve TikTok-related issues with the United States.

The spokesman said that the Sino-U.S. Economic and Trade Consultation in Kuala Lumpur has achieved positive results, fully demonstrating the spirit of equality, respect and reciprocity between the two sides, and can find solutions through dialogue and cooperation.The results of the economic and trade consultation are not easy, and China looks forward to jointly implementing the work with the United States, injecting more certainty and stability into Sino-U.S. economic and trade cooperation and the world economy.