US & China statement after the China-USA Geneva meeting (10-11 May 2025)
China and the USA have made their announcements following their 10-11 May 2025 Geneva meetings. This is the summary from the USA.
China has made the following press release following the meeting.
Source: https://x.com/i/broadcasts/1jMJgkYRbbXJL?s=08
Below is a structured version of the meeting minutes based on China's statement following the China-US high-level economic and trade talks in Geneva on May 10-11, 2025.
Below is China’s official statement on the Geneva talks:
“The China-U.S. high-level economic and trade talks were held in Geneva, Switzerland, from May 10 to 11. He Lifeng, Vice Premier of China’s State Council and the Chinese lead representative for the talks, stated at a press conference on the evening of May 11 (local time) that the discussions were candid, in-depth, and constructive, resulting in important consensus and substantive progress. Both sides agreed to establish a China-U.S. economic and trade consultation mechanism. The two parties will finalize relevant details as soon as possible and will issue a joint statement on the outcomes of the talks on May 12.”
Meeting Minutes: China-US High-Level Economic and Trade Talks
Date: May 10-11, 2025
Location: Geneva, Switzerland
Source: China's official statement (summarised and structured after watching the video from CGTN)
Below is a structured version of the meeting minutes based on China's statement following the China-US high-level economic and trade talks in Geneva on May 10-11, 2025. The structure organises the key points into clear sections for clarity and readability, incorporating the provided details and media Q&A.
Meeting Minutes: China-US High-Level Economic and Trade Talks
Date: May 10-11, 2025
Location: Geneva, Switzerland
1. Overview of the Meeting
Purpose: Address trade and economic issues between China and the United States.
Outcome: Constructive, in-depth discussions with important consensus reached.
Joint Announcement: Scheduled for release on May 12, 2025, to finalise details of agreements.
Atmosphere: Candid, professional, and efficient dialogue characterised by Mutual respect: Listening and considering each other's developmental differences. Sincerity: Promoting progress through honest discussion. Equality: Objective, rational, and pragmatic approach for mutually beneficial outcomes.
2. Key Points from China's Statement
Global Context: The U.S.-initiated global trade war has drawn significant international attention. China’s stance: No winner in a trade war, but China is prepared to respond if pushed. China-US relations have a significant global economic impact, necessitating cooperation.
Meeting Achievements: Productive discussions with important first steps taken to address gaps. Commitment to deepen cooperation and expand trade based on a respectful and equal footing. Consensus on a pragmatic approach to problem-solving to inject certainty into the global economy.
China’s Position: Emphasised peaceful coexistence and honest dialogue to resolve differences. A potential deal must align with China’s interests and aim for a win-win outcome.
Acknowledgement: Gratitude to Swiss hosts for their support and hospitality. Recognition of the U.S. delegation’s diligence and professionalism.
3. Agreed Actions
Consultation Mechanism: Establishment of a joint consultation mechanism for trade and economic issues, co-led by China and the U.S. The Mechanism will include regular and ad-hoc meetings to address ongoing concerns. Meetings may utilise technology (e.g., video and teleconferencing) for flexibility. Details on timing and location to be finalised later.
Follow-Up: Both sides will continue to work on finalising details for the joint statement. Updates on follow-up developments will be provided as progress is made.
4. Media Q&A Session
Question 1: Will the deal address the $1.2 trillion U.S.-China trade deficit?
Answer:
A joint statement will be released on 12May2025.
The goal is a win-win outcome for trade and economic cooperation.
Any deal will prioritise China’s interests while benefiting both sides.
Question 2: What was the atmosphere of the meeting?
Answer:
In-depth, constructive, and candid dialogue with important consensus reached.
Three key characteristics: Mutual respect, listening and acknowledging developmental differences. Sincerity: Promoting progress through equality and mutual benefit. Professionalism: Objective, rational, and efficient approach to lay the foundations for future development.
Question 3 (Bloomberg): When will the joint statement be released, and what are the details of the consultation mechanism?
Answer:
Both sides agreed to establish a consultation mechanism for trade and economic
Both countries will hold regular and ad-hoc meetings, with arrangements for timing and location to be confirmed.
Technology (e.g., video/teleconferencing) will be utilised.
No specific details are available at this time.
The timing of the joint statement is secondary to ensuring quality outcomes.
5. Closing Remarks
Thanks to the Media: Appreciation expressed for the press’s attention to the talks.
Commitment to Updates: China will provide further information on follow-up developments as they occur.
My ending thoughts
A process has been put in place (consultancy mechanism) as they iron out the details with meetings. A joint statement will be shared on 12 May 2025. Let us await this before making any decisions. This is a path in the right direction leading to resolutions and, hopefully, a win-win outcome.