China, US agree to create mechanism for trade and economic consultations

Vice Premier of the State Council of the People's Republic of China He Lifeng and US Secretary of the Treasury Scott Bessent have agreed to create a mechanism for trade and economic consultations following their talks in Switzerland, Report informs via Xinhua.

China and the US will soon agree on the relevant details and publish a joint statement on the results of the talks on May 12, the agency said.

According to He Lifeng, the talks, which took place on May 10-11, "were frank, deep and constructive", and the parties "achieved important consensus and made significant progress."