The outcomes of the latest round of China-U.S. trade talks are largely in line with market expectations, though more efforts to curb lingering uncertainties are needed to provide a stable environment for global commerce, according to a Chinese expert on economics and trade.
On Monday, the Chinese and U.S. delegations convened the two-day economic and trade talks in Stockholm, the capital of Sweden.
Both Chinese and the American sides described the latest round of trade talks as "in-depth, candid and constructive."
Cui Fan, a professor of the School of International Trade and Economics of the University of International Business and Economics, said in an interview with China Global Television Network (CGTN) that the meetings managed to build on previous discussions.
"The outcome of the talks was largely in line with market expectations. Building on the foundations laid during previous meetings in Geneva and London - where the Geneva Consensus and London Framework were established. This latest round expanded the scope of discussions significantly. Both sides exchanged views on broader issues," said Cui.
According to Li Chenggang, China's international trade representative with the Ministry of Commerce and vice minister of commerce, both China and the U.S. will continue pushing for the continued extension of the pause on 24 percent of reciprocal tariffs of the U.S. side, as well as counter measures of the Chinese side.
Cui acknowledged the progress but emphasized that further work toward building a consensus between the two sides will take time.
"This issue should be viewed from two angles. On the one hand, neither China nor the United States wants to see the trade disputes escalate further. On the other hand, significant differences remain between the two sides, particularly on tariffs and broader trade issues. These differences are likely to persist for some time. From a market perspective, the overall trajectory of China-U.S. economic and trade relations appears to be stabilizing, but uncertainties remain. These uncertainties continue to disrupt global industrial and supply chains. China and the U.S. should work together to reduce these uncertainties," he said.
Outcomes of latest round of China-U.S. trade talks in line with market expectations: expert
