The US and China agreed to avoid a trade war

BEIJING, may 20. /TASS/. The Chinese authorities and the us government agreed not to begin trade wars, which corresponds to interests of development of both countries and the world. This was stated to journalists by the special envoy of Chinese President XI Jinping, Vice-Premier of the state Council, Liu he, said on Sunday the Agency “Xinhua”.

“The biggest Sino-American talks at this time, we came to an understanding and will not start trade wars. Both parties abandon the increase in duty in respect of goods to each other,” he said.

According to the Vice Prime Minister, the harmonious development of Sino-us economic and trade relations conforms to the objective trends of global historical development. “The main reason we were able to come to success is to have previously achieved an important consensus between leaders of China and the United States, which was guided by the key interests of the peoples of the two countries and the rest of the world”, concluded Liu he.

In the consultations held on 17 and 18 may, representatives of the United States and China reached a consensus on the adoption of measures aimed at eliminating the trade imbalance between the two countries, according to which Beijing will increase the volume of purchased American goods. The interests of the American side in the negotiations in Washington was represented by the Minister of Finance Steven Mnuchin, Minister of Commerce Wilbur Ross and the U.S. representative for trade negotiations Robert Leitheiser.