The International Trade Council (ITC) welcomes the recent virtual meeting between the top trade negotiators of the United States and China. Katherine Tai, the US Trade Representative, and Chinese Vice Premier Liu He had "candid, pragmatic, and constructive exchanges with an attitude of equality and mutual respect" according to a statement released by the Chinese Commerce Ministry. Both sides have emphasized the importance of their trade relationship, indicating that they have agreed to continue negotiations.
The ITC believes that a productive trade relationship between the US and China would lead to increased global economic growth and stability. We are hopeful that the current negotiations will result in an improved relationship between the two nations, setting a positive tone for future discussions.
As the world's two biggest economies, the US and China play an integral role in international trade. The ITC recognizes the challenges posed by the trade war under the previous administration and the ongoing issues faced in the trade relationship between the two countries. However, we are confident that both sides can overcome these challenges and find a mutually beneficial solution.
The ITC applauds the willingness of both parties to engage in constructive dialogue, and we look forward to seeing further progress towards a productive trade relationship.