MWE Correspondent
The recent comments from China’s Vice Commerce Minister have provided insight into how the world’s two largest economies are approaching a delicate—but promising—moment in their trade relationship.
Following recent high-level meetings in Geneva, Chinese Vice Commerce Minister Li Fei emphasized that any trade deal reached with the United States must reflect China’s national interests. His remarks pointed to China’s cautious but strategic approach to restoring more stable economic ties.
“China will always act in the best interest of its people. Any agreement must reflect fairness and mutual benefit,” said Li.
These comments came after both sides agreed to a 90-day truce, reducing tariffs on each other’s goods in an attempt to dial down years of escalating economic friction. The U.S. lowered tariffs on Chinese imports from 145% to 30%, while China reduced its tariffs on American goods from 125% to 10%.
This move, though temporary, has already sent a positive signal to global markets. Stock indices in New York, Frankfurt, and Shanghai all posted gains following the announcement, while oil prices rose modestly—indicators that investors see this détente as a step in the right direction.
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Leading the Chinese delegation was Vice Premier He Lifeng, while the U.S. team included Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer. Officials from both countries described the meetings as “productive,” with Bessent highlighting “substantial progress” and Greer referring to “a very constructive atmosphere.”
Still, experts caution that the core issues fueling the dispute remain unresolved. These include long-standing disagreements over intellectual property rights, forced technology transfer, and market access for foreign firms. To address these concerns, both sides agreed to establish a new consultation platform aimed at continuing structured dialogue in the months ahead.
With the clock ticking on this 90-day tariff reduction period, the international community is watching closely. The outcome of these talks could help shape the next chapter of global trade—either as a new beginning or another missed opportunity.
