At the invitation of President Xi Jinping, U.S. President Trump made a state visit to China from May 13 to 15. During the visit, the two heads of state held a meeting in Beijing. From May 12 to 13, the China-US economic and trade team held economic and trade consultations in South Korea, preparing in the economic and trade fields for the meeting between the two heads of state. Both sides held intensive consultations on the specific content of the outcomes and reached a positive consensus. The head of the Department of Fine Arts at the Ministry of Commerce provided an interpretation of preliminary economic and trade achievements.
1. Regarding tariff arrangements
Q: This time, China and the U.S. have reached a consensus on tariff arrangements. Could you provide more specific details?
Answer: Tariffs are one of the key issues in China-US economic and trade relations. Since 2025, China and the U.S. have conducted multiple rounds of consultations on tariffs, helping to cool down the "tariff war." In February 2026, the U.S. court ruled that the tariffs imposed by the U.S. government under the International Emergency Economic Powers Act (IEEPA) were illegal. Subsequently, the U.S. launched two Section 301 investigations against numerous global trading partners and announced plans to replace previous IEEPA tariffs with new Section 301 tariffs.
During this economic and trade consultation, the China-US economic and trade teams engaged in in-depth discussions on tariff issues and made arrangements regarding bilateral tariffs. He hopes the U.S. will keep its promise that, regardless of the reasons for imposing or replacing tariffs on China in the future, the tariff level will not exceed the level of the joint arrangement for Kuala Lumpur economic and trade consultations, and through subsequent negotiations, further eliminate unilateral tariffs on China, creating positive conditions for expanding economic and trade cooperation between the two sides.
At the same time, both sides agreed in principle to discuss a framework for reciprocal tariff reductions on products of equal size under the Trade Council, with a scale of $30 billion or more each, and for mutually agreed products of mutual interest, the preferential tariff rate may apply or even lower. Once implemented, this arrangement will not only help stabilize and expand bilateral trade between China and the U.S., but also provide valuable reference for global openness and cooperation. The economic and trade teams on both sides will maintain close communication, agree on specific arrangements, and promote implementation as soon as possible.
2. On the Trade Council and the Investment Council
Q: This time, China and the U.S. have reached a series of economic and trade achievements, including the mutual agreement to establish a Trade Council and an Investment Council. Could you provide specific details?
Answer: The essence of China-US economic and trade relations is mutual benefit and win-win outcomes. When facing differences and frictions, equal consultation is the *** correct choice. After consultations, China and the U.S. agreed to establish an Intergovernmental Trade Council and an Investment Council. The economic and trade teams of both sides will maintain close communication and quickly form concrete arrangements regarding the Council's structure, functions, and operating model.
After the establishment of the two councils, they will provide a platform for pragmatic discussions on mutual concerns in trade and investment, facilitate policy exchanges, expand cooperation, manage differences, and promote China-U.S. economic and trade consultations from "crisis response" to "institutionalized management," offering effective institutional guarantees for bilateral economic and trade cooperation.
3. On expanding agricultural product trade
Q: Could you introduce the consensus reached between China and the U.S. in expanding two-way trade, especially in agricultural products?
A: China-US agricultural product trade is an important part of bilateral economic and trade cooperation, a win-win cooperation based on complementary supply and demand. China is the world's most important agricultural market. Importing American agricultural products can fill the structural supply-demand gap in the domestic market, enrich the dining tables of ordinary people, and China's huge consumer market has also brought stable economic income to American farmers. At the same time, Chinese specialty agricultural products such as dairy, aquatic products, vegetables, and fruits also have significant potential demand in the U.S. market.
After consultations, both sides reached a series of positive consensus on resolving some non-tariff barriers and market access issues for agricultural products from both sides, and in principle agreed to include relevant products in the reciprocal tariff reduction framework, while also setting guiding goals to expand two-way trade in agricultural products. He looks forward to both sides jointly reducing tariffs, reducing non-tariff barriers, and expanding market access, creating favorable conditions for two-way agricultural trade, promoting the restoration and continuous expansion of trade cooperation in the agricultural product sector.
4. Regarding the extension of the joint arrangement for Kuala Lumpur economic and trade consultations
Q: During this negotiation, did both sides discuss the extension of the joint arrangement for Kuala Lumpur economic and trade negotiations?
A: In October 2025, China and the U.S. will reach a joint arrangement in Kuala Lumpur to resolve economic and trade issues of mutual concern, suspending some tariff and non-tariff measures until November 10, 2026, including a 24% reciprocal tariff on the U.S. and related countermeasures from China; the 50% penetrating rule on U.S. export controls and related Chinese export control measures; The U.S. Section 301 investigation measures on maritime, logistics, and shipbuilding in China, as well as China's related countermeasures.
These arrangements are of great significance to the stability of China-US economic and trade relations, and promoting the extension of these arrangements aligns with the common interests of both countries and the expectations of the international community. During this consultation, both sides reiterated that they will continue to implement the results of previous economic and trade consultations. The economic and trade teams will maintain close communication and consultations, promote the extension of the joint arrangement for the Kuala Lumpur economic and trade consultations, and provide a more stable policy environment and market expectations for bilateral economic and trade cooperation.
5. Regarding rare earth export controls
Question: The White House website mentions that "China will address U.S. concerns about supply chain shortages for rare earths and other critical minerals (including yttrium, scandium, neodymium, indium)." China will also address U.S. concerns about banning or restricting the sale of rare earth production and processing equipment and technology." What is China's comment on this?
A: The China-US economic and trade teams have conducted thorough communication and exchanges on export control issues, and both sides will jointly study and resolve each other's reasonable and lawful concerns. The Chinese government imposes export controls on rare earths and other critical minerals in accordance with laws and regulations, and reviews applications for compliant, civilian licenses. China is willing to work with the U.S. to jointly create favorable conditions for mutually beneficial cooperation between enterprises of both countries and to ensure the security and stability of global industrial and supply chains.
6. Regarding aircraft trade
Q: U.S. President Trump announced that China agreed to purchase 200 Boeing aircraft. Could you provide the specifics?
A: Aviation is a key area for deepening mutually beneficial cooperation between China and the United States. According to the important consensus reached by the presidents of China and the United States, China Airlines will introduce 200 Boeing aircraft based on its own air transport development needs and commercial principles. At the same time, the U.S. will provide China with ample supply guarantees for engines and components.
7. Regarding market access for agricultural products
Q: Recently, a spokesperson for the Ministry of Commerce introduced that China and the U.S. have reached preliminary results in the field of economic and trade affairs, including the resolution or substantive efforts to resolve certain non-tariff barriers and market access issues for agricultural products. Could you provide specific details?
Answer: Agricultural product trade cooperation is an important part of China-US economic and trade relations. The two countries have highly complementary industries in agriculture and have broad cooperation space. After equal consultations, both sides have achieved positive results in agriculture and reached several consensus on two-way market access for agricultural products. These achievements address the concerns of both sides and achieve mutual benefit and win-win outcomes.
The U.S. side pledges to resolve or substantially promote the resolution of non-tariff barriers and market access issues for some Chinese agricultural products, mainly including: First, a commitment to lift the automatic detention measures imposed since 2008 on Chinese dairy products and dairy products exported to the U.S., which will provide more convenient trade conditions for Chinese products exported to the U.S.; Second, agree to accept trial imports of Chinese media bonsai to the U.S. and promptly initiate revisions to relevant regulations to promote market access for Chinese media bonsai in the U.S.; Third, agree to lift the automatic detention measures for three categories of Chinese aquatic products exported to the U.S. Additionally, the U.S. side has made positive commitments regarding designating Shandong as a highly pathogenic avian influenza free zone and expediting the review of Chinese enterprises' applications for removal from the import alert red list.
According to relevant laws and regulations, China will resume the registration of U.S. beef enterprises exporting to China that meet requirements, lift restrictions on highly pathogenic avian influenza outbreaks in some eligible U.S. states, resume imports of poultry products from relevant U.S. states, accelerate the review of rectification materials for U.S. beef companies suspended from exporting to China due to drug residue issues, and will engage in exchanges and communication with the U.S. side focusing on agricultural biotechnology of concern.
China and the U.S. are important agricultural trade partners. The achievement of these achievements not only addresses the specific issues of concern to both sides but also lays the foundation for deepening cooperation and creates a positive atmosphere. Some of these commitments have already been implemented as scheduled. Next, both sides should continue to uphold equal dialogue and move toward each other, continuously extending the list of cooperation and shortening the list of issues in the agricultural sector. China is willing to work with the U.S. to fully leverage their respective resource endowments and comparative advantages to create favorable conditions for deepening bilateral agricultural cooperation and promoting agricultural product trade.
8. Regarding the registration of U.S. beef enterprises
Question: Recently, the U.S. side stated that during the China-U.S. Seoul economic and trade talks, China has resolved the registration issue of U.S. beef companies exporting to China. Could you provide the specific details?
A: During the China-US Seoul economic and trade consultations, both sides had in-depth exchanges on the registration of American beef companies. Previously, considering the risk of cross-species transmission of highly pathogenic avian influenza outbreaks in the United States, and to ensure the safety of imported beef from the U.S., China's General Administration of Customs temporarily suspended approving the registration of U.S. beef companies in China. Subsequently, the U.S. side repeatedly provided technical materials related to epidemic control at China's request. Based on relevant Chinese laws and regulations and international animal health rules, China conducted a rigorous scientific evaluation of the materials provided by the U.S. side, determined that the measures taken by the U.S. met China's requirements, and decided to restore the registration of the relevant U.S. beef companies in China. Meanwhile, for some U.S. beef companies whose imports were suspended due to excessive drug residues, China has provided the U.S. with solutions including rectification requirements, will conduct risk assessments based on scientific principles, and have sent technical teams to the U.S. for on-site inspections. China will determine the next steps based on the assessment results.
China values China-U.S. agricultural trade cooperation, welcomes high-quality American agricultural products into the Chinese market, and will maintain close communication with the U.S. under the China-U.S. economic and trade consultation mechanism regarding follow-up work, promoting proper resolution of mutual concerns.