Senior commerce official shares optimism about China-U.S. trade talks

China's Minister of Commerce Zhong Shan (C), Vice Minister of Commerce and Deputy China International Trade Representative Wang Shouwen (2nd R) and Vice Minister of Commerce Qian Keming (2nd L) attend a press conference on China's domestic market and all-round opening-up for the second session of the 13th National People's Congress (NPC) in Beijing on March 9, 2019. [Photo: Xinhua/Shen Bohan]

Hopes are rising in China that the trade talks between China and the United States will bring the trading relationship between the two sides back on track, according to China's vice minister of commerce.

Vice Minister Wang Shouwen shared his views on the ongoing talks during a press conference on the sidelines of the annual legislative session of the National People's Congress.

"The global exports of the United States have risen by 7 percent in the past year, but the country's exports to China have decreased by 7 percent," said Wang. "Increasing tariffs will harm the benefits of the people in both countries, including workers, farmers, and enterprises."

Aerial view of containers at the fourth phase of the Yangshan Deep-Water Port, the world's largest automated cargo wharf to start trial operation, in Shanghai on December 6 2017. [File Photo: IC]

Wang said that China and the United States are trying their best to implement the consensus reached by presidents of the two countries. He said substantial progress was made during the three rounds of negotiation that have taken place since December. Teams from both countries are working towards reversing the increases in tariffs and bringing bilateral trade back on track.

The vice minister stressed that reaching a mutually beneficial agreement was in the interests of China and the United States, and in line with the expectations of people around the world.