US-China Relations: A Critical Economic Meeting Took Place

Important Meeting Between the US and China

China's Vice Premier for Economic Relations He Lifeng held a video conference with US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer.

Details of the Meeting

According to Xinhua's report, during this important meeting, the steps to be taken for the implementation of the agreement reached during the summit between US President Donald Trump and Chinese President Xi Jinping on October 30 and the phone call on November 24 were comprehensively discussed.

Cooperation and Reduction of Issues

The parties emphasized that they agreed on promoting the stable development of economic and trade relations between the two countries and strengthening their cooperation.

Customs Duties and Rare Earth Elements

Relations between the US and China have become complicated in recent months due to the Trump administration's increase in customs duties and China's efforts to strengthen its control over rare earth elements in global production.

Postponement of Additional Tariffs

The leaders of the two countries agreed to postpone the additional tariffs of 24% that they implemented for one year starting from November 10.