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US, China agree to establish 'consultation mechanism' on trade
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US, China agree to establish ‘consultation mechanism’ on trade
Chinese Vice Premier He Lifeng said on May 11 that Beijing and Washington had agreed during weekend talks in Geneva to create a “consultation mechanism,” as they strive to de-escalate trade tensions.
Speaking to reporters in Geneva, He said that the closed-door discussions with U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer resulted in an agreement on “establishing a consultation mechanism.”
China’s international trade representative Li Chenggang explained the mechanism would enable “regular and irregular communications related to trade and commercial issues.”
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