The latest China-U.S. high-level meeting on economic and trade affairs in Geneva marks a significant step forward for international trade, director-general of the World Trade Organization Ngozi Okonjo-Iweala said on Sunday.
Okonjo-Iweala said in a statement that she was pleased with the positive outcome of the talks.
Amid current global tensions, such progress is important not only for the United States and China but also for the rest of the world, including the most vulnerable economies, she said.
In an earlier interview with China Global Television Network (CGTN), Okonjo-Iweala said that as the world is facing rising fragmentation and uncertainty, economies should keep sober and careful in decision making.
"It's been a challenging few years for world trade. We've seen protectionism on the rise, various measures being used by different countries. We need to be very careful that trade policy uncertainty and fragmentation do not impact the world in an adverse way. Let us not to rush to take action and counter action. So, let's keep steady. Let's keep everyone deliberate. Let's chill," she said.
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.
According to a joint statement released after the meeting, 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.
WTO chief says China-US economic, trade meeting marks significant step forward
WTO chief says China-US economic, trade meeting marks significant step forward
WTO chief says China-US economic, trade meeting marks significant step forward
