During the visit, the two heads of state held a meeting in Beijing. On May 12-13, the China US economic and trade team held economic and trade consultations in South Korea, preparing for the meeting between the two heads of state in the economic and trade fields. Both sides had intensive consultations on the specific content of the results and reached a positive consensus. The person in charge of the US Department of Commerce interpreted the preliminary economic and trade achievements.
1、 Regarding tariff arrangements
Q: Can you provide more specific information about the consensus reached between China and the United States on tariff arrangements this time?
Answer: Tariffs are one of the key issues in the economic and trade relations between China and the United States. Since 2025, China and the United States have conducted multiple rounds of consultations on tariffs, promoting the cooling of the "tariff war". In February 2026, the US Supreme Court ruled that the tariffs imposed by the US government under the International Emergency Economic Powers Act (IEEPA) were illegal. Since then, the US has launched two 301 investigations against many trading partners around the world and stated that it will replace the previous IEEPA tariffs with new 301 tariffs.
In this economic and trade consultation, the China US economic and trade teams had in-depth communication on the issue of tariffs and made arrangements regarding bilateral tariffs. We hope that the US side will keep its promise and, regardless of the reasons for imposing or replacing tariffs on China in the future, the level of US tariffs on China cannot exceed the level of the Kuala Lumpur Economic and Trade Consultation Joint Arrangement. Through subsequent consultations, we will further cancel unilateral tariffs on China and create positive conditions for both sides to expand economic and trade cooperation.
At the same time, both parties have agreed in principle to discuss a framework arrangement for equivalent tariff reductions for products of equal scale under the Trade Council, with each party having a scale of $30 billion or more. For products of mutual concern agreed upon by both parties, it is expected that the most favored nation tariff rate will be applied or even lower. After the implementation of this arrangement, it will not only be conducive to stabilizing and expanding bilateral trade between China and the United States, but also provide useful reference for global open cooperation. The economic and trade teams of both sides will maintain close communication, agree on specific arrangements, and promote implementation as soon as possible.
2、 Regarding the Trade Council and Investment Council
Q: Can you introduce the specific situation regarding the series of economic and trade achievements reached between China and the United States, including the agreement to establish a Trade Council and an Investment Council?
Answer: The essence of China US economic and trade relations is mutual benefit and win-win. In the face of differences and frictions, equal consultation is the only correct choice. After consultation, both China and the United States have agreed to establish an intergovernmental trade council and an investment council. The economic and trade teams of both sides will maintain close communication and form specific arrangements for the structure, functions, and operation mode of the council as soon as possible.
After the establishment of the two councils, it will provide a platform for both sides to pragmatically discuss mutual concerns in the fields of trade and investment, which is conducive to exchanging policies, expanding cooperation, managing differences, promoting the shift of China US economic and trade consultations from "crisis response" to "institutionalized management", and providing effective mechanism guarantees for economic and trade cooperation between the two sides.
3、 Regarding the expansion of agricultural product trade
Q: Can you introduce the consensus reached between China and the United States in expanding bilateral trade, especially in agricultural trade?
Answer: The trade of agricultural products between China and the United States is an important component of bilateral economic and trade cooperation, which is a win-win cooperation with complementary supply and demand. China is the world's most important agricultural market, and importing American agricultural products can fill the structural supply-demand gap in the domestic market, enrich the dining tables of ordinary people, and bring stable economic income to American farmers through China's huge consumer market. At the same time, Chinese dairy products, aquatic products, vegetables, fruits and other specialty agricultural products also have significant potential demand in the US market.
After consultation, both sides reached a series of positive consensus on promoting the resolution of non-tariff barriers and market access issues for some agricultural products, and agreed in principle to include relevant products in the equivalent tariff reduction framework arrangement. At the same time, they also set guiding goals for expanding two-way trade in agricultural products. We hope that both sides can create favorable conditions for two-way agricultural trade by jointly reducing tariffs, lowering non-tariff barriers, and expanding market access, and promote the resumption and continuous expansion of trade cooperation in the field of agricultural products.
4、 Regarding the extension of the Kuala Lumpur Economic and Trade Consultation Joint Arrangement
Q: Did the two sides discuss the extension of the joint arrangement for the Kuala Lumpur Economic and Trade Consultation during this consultation?
Answer: In October 2025, China and the United States reached a joint arrangement in Kuala Lumpur to address their respective economic and trade concerns, suspending some tariff and non-tariff measures until November 10, 2026, including the US's 24% equivalent tariff and China's related countermeasures; 50% penetration rules for US export controls and relevant export control measures from China; The US has implemented 301 investigation measures on China's maritime, logistics, and shipbuilding industries, as well as related countermeasures from China.
The relevant arrangements are of great significance to the stability of China US economic and trade relations, and promoting the extension of these arrangements is in line with the common interests of both countries and the expectations of the international community. In this consultation, both China and the United States reiterated that they will continue to implement the results of the previous economic and trade consultations. The economic and trade teams of both sides will maintain close communication and consultation, promote the joint arrangement of the Kuala Lumpur Economic and Trade Consultation to postpone, and provide a more stable policy environment and market expectations for the economic and trade cooperation between the two countries.
5、 Regarding the export control of rare earths
Q: The website of the White Palace mentioned that "China will address the concerns of the United States about the supply chain shortage of rare earths and other key minerals (including yttrium, scandium, neodymium, indium). China will also address the concerns of the United States about banning or restricting the sale of rare earth production and processing equipment and technology." What is China's comment on this?
Answer: The China US economic and trade teams have had sufficient communication and exchanges on export control issues, and both sides will jointly study and resolve each other's reasonable and legitimate concerns. The Chinese government implements export controls on key minerals such as rare earths in accordance with laws and regulations, and reviews compliant and civilian license applications. China is willing to work together with the United States to create favorable conditions for promoting mutually beneficial cooperation between enterprises of the two countries and ensuring the security and stability of global industrial and supply chains.
6、 Regarding Aircraft Trade
Q: US President Trump claimed that China has agreed to purchase 200 Boeing aircraft. Can you provide more details?
Answer: Aviation is a key area for deepening mutually beneficial and win-win cooperation between China and the United States. According to the important consensus reached by the leaders of China and the United States, China Airlines will introduce 200 Boeing aircraft in accordance with commercial principles based on its own aviation transportation development needs. At the same time, the US will provide sufficient engine and component supply guarantees for China.
7、 Regarding Market Access for Agricultural Products
Q: Recently, the spokesperson of the Ministry of Commerce introduced that China and the United States have achieved preliminary results in the field of economy and trade, including resolving or substantially promoting the resolution of non-tariff barriers and market access issues for some agricultural products. Can you provide specific information?
Answer: Agricultural trade cooperation is an important component of China US economic and trade relations. The two countries have highly complementary industries and broad cooperation space in the field of agriculture. Through equal consultations, both sides have achieved positive results in the agricultural field and reached several consensuses on the issue of two-way market access for agricultural products. The relevant achievements have taken into account the concerns of both sides and achieved mutual benefit and win-win results.
The United States has committed to resolving or substantially promoting the resolution of non-tariff barriers and market access issues for some agricultural products from China, mainly including: firstly, the commitment to lift the automatic detention measures on dairy products and dairy containing foods imported from China to the United States since 2008, which will provide more convenient trade conditions for the export of our related products to the United States after the lifting of these measures; Secondly, we agree to accept the experimental export of Chinese medium bonsai to the United States and initiate the revision of relevant regulations as soon as possible to promote the market access of our medium bonsai to the United States; Thirdly, we agree to promote the lifting of the automatic detention measures for three types of aquatic products exported from China to the United States. In addition, the United States has made positive commitments to recognize Shandong as a highly pathogenic avian influenza free area and to accelerate the review of applications from Chinese companies to be removed from the import alert red list.
According to relevant laws and regulations, China will restore the registration of qualified US beef enterprises exporting to China, lift restrictions on highly pathogenic avian influenza outbreaks in some eligible states, resume importing poultry products from relevant states in the United States, accelerate the review of rectification materials from US beef enterprises suspended from exporting to China due to drug residue issues, and communicate with the US on agricultural biotechnology issues of concern to the US.
China and the United States are important agricultural trading partners for each other. The achievement of the above results not only solves the specific issues of concern for both sides, but also lays the foundation for deepening cooperation and creates a good atmosphere. At present, some commitments have been implemented as scheduled. Next, both sides should continue to adhere to equal dialogue and move towards each other, continuously expanding the list of cooperation and shortening the list of issues in the agricultural field. China is willing to work with the United States to fully leverage their respective resource endowments and comparative advantages, and create favorable conditions for deepening bilateral agricultural cooperation and promoting agricultural product trade.
8、 Regarding the Registration of Beef Enterprises in the United States
Q: Recently, the US side stated that during the Seoul Economic and Trade Consultation between China and the US, China has resolved the registration issue of US beef enterprises exporting to China. Can you provide more details?
Answer: During the Seoul Economic and Trade Consultation between China and the United States, both sides had in-depth exchanges on the registration of American beef enterprises. Previously, considering the risk of cross species transmission of highly pathogenic avian influenza in the United States, in order to ensure the safety of imported beef from the United States, the General Administration of Customs of China temporarily suspended the approval of US beef companies to register in China. Afterwards, the US side provided technical information related to epidemic control multiple times as requested by China. Based on relevant laws and regulations of China and international animal health rules, the Chinese side has conducted a rigorous scientific evaluation of the information provided by the US side, and believes that the measures taken by the US side meet China's requirements. Therefore, it has been decided to restore the registration of relevant US beef enterprises in China. At the same time, for some American beef companies that have been suspended from imports due to excessive drug residues, China has provided the US with a solution path including rectification work requirements. We will conduct a risk assessment of the US rectification situation based on scientific principles and send a technical team to conduct on-site inspections in the US. The Chinese side will determine the next steps based on the evaluation results.
China attaches great importance to agricultural trade cooperation between China and the United States, welcomes high-quality agricultural products from the United States to enter the Chinese market, and will maintain close communication with the United States on follow-up work under the China US economic and trade consultation mechanism to promote the proper resolution of the concerns of both China and the United States. (Looking into the New Era)