China-US trade talks conductive to bilateral relations, world economy: experts

Chinese international trade experts have welcomed the substantive progress made in the high-level meeting on economic and trade affairs between China and the U.S., saying that the outcomes meet the expectations of producers and consumers in both countries, and serve the interests of the two countries and also the common interests of the world.

Over the weekend, Chinese Vice Premier He Lifeng, the Chinese lead person for China-U.S. economic and trade affairs, held a high-level meeting with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in Geneva.

The two sides conducted in-depth, candid and constructive communications on implementing the important consensus reached by the heads of state of the two countries on Jan 17, and reached a series of major agreements.

"It's quite gratifying to see that the talks have achieved such results within two days. I think it has exceeded the expectations of many people, including the market. For the United States, it is under pressure from the market, from consumers and from producers, even from its ports, so it can't afford to waste any time. In this case, China is actually very determined," said Zhao Zhongxiu, president of the University of International Business and Economics.

In the joint statement issued by China and the U.S., both sides clearly pointed out the importance of bilateral economic and trade relations to the two countries and the global economy, as well as the importance of maintaining a sustainable, long-term and mutually beneficial bilateral economic and trade relationship. They also proposed a consultation mechanism for restoring economic and trade relations.

Experts say that this move will help in resolving remaining differences between the two countries.

"I think both sides have great sincerity. It is of vital importance that China and the United States have established a mechanism for economic and trade consultations. With such a cooperative mechanism, we won't deviate too far from the track. The U.S. side should also be clear that imposing tariffs is not a solution to the trade frictions between China and the U.S. Instead, both sides should work together, respect each other, negotiate on an equal footing, treat each other candidly and achieve win-win cooperation," said Liu Ying, a researcher from the Chongyang Institute for Financial Studies of the Renmin University of China.

According to the details of the statement, both China and the U.S. commit to remove 91 percent tariffs and suspend 24 percent tariffs for 90 days while retaining the remaining 10 percent tariffs. On this basis, the two sides will continue to negotiate on economic and trade relations.

"The talks have cooled down the trade war between China and the United States and prevented it from escalating. On such a basis, a considerable part of the differences between the two sides can be resolved. This is a step in the right direction, which is beneficial to the entire world economy and the economic and trade relations between China and the United States," said Cui Fan, director of research at the China Society for World Trade Organization Studies.

China-US trade talks conductive to bilateral relations, world economy: experts

A major port in northern Venezuela came under U.S. airstrikes in the early hours of January 3, which caused extensive damage to civilian infrastructure, destroyed critical medical supplies in a warehouse, and severely impacted centuries-old cultural heritage sites, according to local residents.

The La Guaira Port, a vital hub for imports that support daily life in the region, was heavily damaged during the attack.

Large quantities of medical supplies stored at the port were destroyed. A historic cultural building dating back for some 300 years was also badly damaged by the bombardment.

Residents living near the port recalled the terrifying scenes as explosions shook nearby neighborhoods.

Humberto Bolivar, who lives in a community separated from the port by only a main road, said the blast waves shattered his home's windows, while stray shrapnel struck the water tank on his roof. According to reports, three missiles were fired at the port that night.

Bolivar said that beyond material losses, he is most concerned about the psychological impact on his children, who remain too frightened to leave their home days after the attack.

"The United States invaded our country. The children were frightened. This is not good for them, because it leaves some children with psychological trauma. They do not want to go to school or leave the house, because they are afraid that something worse might happen. We truly do not want this to happen to our country," he said.

Apart from civilian facilities, local cultural heritage site was also affected.

The La Guaira state government building, a structure with nearly 300 years of history and once served as the site of Venezuela's first national customs office, was struck by the force of the explosions.

Windows of the building were shattered, and furniture scattered across the floor.

"As people of La Guaira, we feel deep pain. Our cultural heritage has been bombed. We are living in constant anxiety and suffering, and life can no longer be the same as it was before," said a local named Henry Cumares.

The U.S. side has claimed the airstrikes targeted warehouses allegedly used to store narcotics. However, locals refuted such accusation.

"According to what Donald Trump said, they bombed this place using the excuse that the warehouses here were used to store drugs at the port. But based on the video released by our governor, these warehouses that were burned contained medicine for kidney patients and foods. Many people depend on these supplies to survive. I think the bombing is extremely despicable," said a local resident named Alejandro Capriles.

US strike hits Venezuelan port, wrecking medical supplies, heritage building