China and U.S. Hold Trade Talks in South Korea

On May 13 local time, He Lifeng, China's lead person for economic and trade affairs and Vice Premier of the State Council, held trade consultations with U.S. Treasury Secretary Bessent in South Korea. Guided by the important consensus reached by the two heads of state, the two sides, adhering to the principles of mutual respect, peaceful coexistence, and win-win cooperation, conducted candid, in-depth, and constructive exchanges on addressing each other's economic and trade concerns and further expanding practical cooperation.

China's Ministry of Commerce stated that the consultations were held in a professional, pragmatic, and efficient atmosphere. Both sides agreed to maintain communication on trade and economic matters within the framework of the bilateral economic and trade dialogue mechanism.

Analysts noted that this meeting marks another important step in stabilizing China-U.S. economic and trade relations following the Geneva talks. The two sides have shown willingness to resolve differences through dialogue and consultation, which is positive for easing global market uncertainty.

The U.S. Treasury Department stated that the meeting focused on issues including bilateral trade imbalances, export controls, and the macroeconomic environment. Both sides acknowledged the importance of fair and reciprocal trade relations.

Global financial markets are closely watching the progress of China-U.S. trade negotiations, as the relationship between the world's two largest economies has significant implications for global trade flows, supply chains, and currency markets.