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China, US make 'substantial progress' in trade talks, agree on consultation mechanism

( May 12, 2025, 02:44 GMT | Official Statement) -- MLex Summary: China's Vice Premier and chief economic representative He Lifeng said economic and trade talks with the US counterpart in Switzerland on May 10–11 achieved "substantial progress," with both sides agreeing to establish an economic and trade consultation mechanism, according to a statement on the Chinese government's website. He described the discussions as candid and constructive, highlighting that both sides reached a series of major consensuses, and Beijing's commitment to implementing the consensus from the Jan. 17 call between the heads of both states. He added that China is willing to work with the US to manage differences, expand cooperation and deepen ties to bolster global economic stability.The statement follows:...

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