The Ministry of Commerce of China File photo: VCG

China and the US have reached new consensuses in the Paris trade talks, and consultations will continue, a spokesperson for China's Ministry of Commerce (MOFCOM) said on Thursday, marking the ministry's latest remarks on China-US trade relations after the two countries concluded two-day consultations in Paris on Monday.

When asked for comments on whether the China-US economic and trade consultations in Paris discussed rare earths or controls on rare-earth exports, and whether there were any new agreements on the long-term China-US trade consultation framework or on the US allowing Chinese companies to invest in the US, He Yongqian, the ministry spokesperson, said that on March 15-16 (local time), China's Vice Premier He Lifeng met in Paris with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer for China-US economic and trade consultations.

Guided by the important consensus between the two heads of state, both sides conducted candid, in-depth, and constructive exchanges on issues of mutual concern, including tariff arrangements, promotion of bilateral trade and investment, and maintaining existing consultation agreements, the spokesperson said, noting that some new consensuses were reached and consultations will continue.

Both sides agreed to explore the establishment of a mechanism to expand economic and trade cooperation, continue to make good use of the China-US economic and trade consultation mechanism, strengthen dialogue and communication, properly manage differences, expand practical cooperation, and promote the sustained and stable improvement of bilateral economic and trade relations, the spokesperson said.

When asked for comments on reports that the Chinese government had given approval to some companies to purchase Nvidia H200 chips, the spokesperson said that she was not aware of the situation.

"The wide attention on China-US trade talks and related bilateral updates is well justified, as China-US economic and trade relations are significant not only for the two countries but also for the broader global economy," Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Thursday.

The latest talks, which were in-depth, candid, and constructive, between the world's two largest economies will bring much-needed stability to an increasingly uncertain world, Zhou said.

At the same time, the expert said that it is important for both sides, particularly the US, to focus on addressing key concerns through dialogue and consultation, and to continue expanding cooperation in a way that enhances predictability in the global supply chain.

Global Times