The US will lift some restrictive measures against China as a result of agreements reached during trade talks between the two countries, the Chinese Ministry of Commerce announced.
“China will legally approve export applications for controlled goods that meet the requirements, and the United States will lift a number of restrictive measures taken against China“, the ministry said in a statement.
The ministry noted that Chinese and US negotiators have maintained close contact after the meeting in London. Recently, the two sides “further agreed on the details of the framework agreement.”
Beijing expects the United States and China to find common solutions, following the important consensus of the two heads of state and the requirements expressed during their phone call on June 5. The Chinese side hopes that Beijing and Washington will strengthen consensus, reduce misunderstandings, develop cooperation, and jointly promote the healthy, stable and sustainable development of trade and economic relations between the two countries.
On June 9 and 10, China-US trade and economic consultations were held in London. This mechanism was established after the Geneva talks held from May 10 to 11. At the meeting, Beijing and Washington agreed to partially reduce mutual tariffs, the amount of which exceeded 100% by May.