By Zhong Sheng, People’s Daily
Following the China-U.S. economic and trade talks in London, both sides have intensified efforts to implement the outcomes of the “London Framework,” making positive progress on multiple fronts and sending encouraging signals to the international community.
These developments demonstrate that as long as China and the U.S. remain committed to resolving differences through equal dialogue and consultation, enhancing mutual understanding, reducing misperceptions, and strengthening cooperation, they can find effective solutions to their disputes and create a more stable and open environment for both countries and global economic growth.
During the London talks, the two sides have agreed in principle on the framework for implementing the important consensus reached by the two heads of state during their phone talks on June 5, and consolidating the outcomes of the economic and trade talks in Geneva. Since then, the working teams have maintained close communication. Upon approval, further details were clarified and confirmed.
To implement the outcomes of the London Framework, China has been reviewing and approving compliant export license applications for controlled items, while the U.S. has taken corresponding steps to ease certain restrictive measures against China.
These moves have been welcomed by stakeholders in both countries and the international community, reinforcing confidence in the ability of China and the U.S. to resolve their economic and trade disputes through equal dialogue and consultation.
From the interactions between China and the U.S. since the start of this round of economic and trade frictions, one conclusion can be drawn: Dialogue and cooperation remain the only viable path forward; coercion and intimidation have proven ineffective. The London Framework is the result of hard-earned diplomatic engagement, and both sides must work in good faith to honor their commitments and lay the groundwork for the long-term resolution of their disputes.
China remains firmly committed to defending its rights and interests while implementing the consensus reached with sincerity. The U.S., for its part, should recognize the mutually beneficial nature of China-U.S. economic and trade relations, correct its misguided actions, and continue working with China through the established bilateral consultation mechanism.
Concrete steps are needed to uphold and put into practice the important consensus reached by the two heads of state and to jointly advance the stable and sound development of bilateral economic and trade relations.
Recently, with the deadline for imposing so-called “reciprocal tariffs” approaching, concerns over new trade frictions have been rising. It must be pointed out that the arbitrary imposition of tariffs by the U.S. constitutes an act of economic coercion that undermines the rules-based international trade system and must be firmly opposed.
The negative consequences of these tariff measures are becoming increasingly evident. Both the World Bank and the OECD have recently downgraded growth forecasts for the U.S. and the global economy, citing trade policy uncertainty as a key factor. Economists in the U.S. warn of growing stagflation pressures and long-term repercussions for global trade liberalization. Rising market uncertainty means that the ultimate burden will fall on consumers.
Facts have proven time and again that upholding principles and positions is essential to safeguarding legitimate rights and interests. A sound and stable international trade order is fundamental to the development of all nations.
China welcomes efforts by other countries to resolve trade differences with the U.S. through equal consultations, and calls on all parties to uphold the multilateral trading system with the World Trade Organization (WTO) at its core.
At the same time, China has consistently emphasized that while bilateral negotiations are important for easing and resolving trade frictions, they must not come at the expense of third-party interests. This is a principle that China has always upheld in its trade talks with the United States. China firmly opposes any arrangement between the U.S. and its trading partners that trades off China’s interests in return for tariff exemptions. Should such arrangements occur, China will take resolute countermeasures to safeguard its legitimate rights and interests.
The multilateral trading system with the WTO at its core remains the cornerstone of healthy and orderly global trade. Any short-sighted moves to erode this system will inevitably harm the long-term interests of all countries.
In the face of mounting unilateralism and protectionism, no country can remain unscathed. Once foundational principles are compromised, coercive actions will only escalate, threatening the institutional underpinnings of global development.
At a time of heightened uncertainty, strategic clarity and international coordination are more important than ever. All countries must stand firmly on the side of fairness and justice and on the right side of history, resolutely uphold international trade rules and the multilateral trading system, and safeguard international fairness and justice, so as to jointly foster an open and inclusive global trade environment.
Openness and cooperation remain the only viable path toward a shared future. As a responsible major country, China stands ready to work with all countries to uphold true multilateralism, safeguard the multilateral trading system, and contribute to the development of an open and inclusive world economy, thereby providing greater certainty and stability to the global economy.
(Zhong Sheng is a pen name often used by People’s Daily to express its views on foreign policy and international affairs.)
