China and the United States issued a joint statement on bilateral economic and trade consultations in Washington on the 19th. The statement reads as follows:
According to the instructions of President Xi Jinping and President Trump, from May 17 to 18, May 1818, the Chinese delegation led by Chairman Xi Jinping’s special envoy and vice minister of the State Council Liu He, including Finance Minister Mukuchin, Secretary of Commerce Ross and Trade Representative Members of the U.S. delegations such as Letsigze conducted constructive consultations on trade issues.
The two sides agreed that effective measures will be taken to substantially reduce the US trade deficit with China’s goods. In order to meet the growing consumer demand of the Chinese people and promote high-quality economic development, the Chinese side will substantially increase purchases of goods and services from the United States. This will also contribute to the U.S. economy. Growth and employment.
The two sides agreed to meaningfully increase the export of agricultural products and energy from the United States. The United States will send a delegation to China to discuss specific issues.
The two sides discussed the expansion of manufacturing products and services and reached a consensus on creating favorable conditions for increasing trade in the above-mentioned areas.
The two sides attach great importance to the protection of intellectual property rights and agreed to strengthen cooperation. China will promote the revision of relevant laws and regulations, including the Patent Law.
Both parties agree to encourage two-way investment and will strive to create a fair and competitive business environment.
The two sides agreed to continue to maintain high-level communication on this issue and actively seek solutions to their respective economic and trade issues.