In the bustling capital of Malaysia, Kuala Lumpur, China and the U.S. rolled up their sleeves for high-stakes economic and trade talks—and walked away with some solid wins for global trade stability. 🤝🌏
Here’s a quick rundown of the headline-grabbing outcomes:
- Tariff suspensions: The U.S. will scrap the 10% "fentanyl tariffs" and pause 24% reciprocal tariffs on Chinese goods—including products from the Hong Kong Special Administrative Region and the Macao Special Administrative Region—for another year. China will tweak its countermeasures to match.
- Entity-list pause: The U.S. will halt its expanded export restrictions rule for one year, and the Chinese mainland will suspend its corresponding export controls announced on October 9 while refining its approach.
- Section 301 pause: Measures targeting maritime, logistics, and shipbuilding industries are on hold for a year, and China will mirror this suspension to keep things balanced.
- Beyond tariffs: Both sides agreed to step up anti-drug cooperation on fentanyl, boost agricultural trade, and work through individual company cases together.
They also confirmed progress made at the Madrid talks: the U.S. pledged fresh commitments on investment, and China plans to address TikTok-related issues in a fair and transparent way.
A spokesperson emphasized that these results were hard-earned through equality, respect, and mutual benefit. By keeping the dialogue open, China and the U.S. are aiming to bring more certainty and stability not just to their economic ties but to the global market at large. 📈✨
What’s next? Both sides are gearing up to implement these agreements, so stay tuned for how these moves will shake up markets and maybe even your shopping cart! 🛒😉
Reference(s):
Outcomes of China-U.S. economic, trade talks in Kuala Lumpur
cgtn.com
