Concrete steps key to stable Sino-US trade

Turning recent trade agreements into concrete commercial gains and maintaining dialogue on outstanding differences are crucial to stabilizing economic relations between China and the United States, as well as sustaining business confidence, analysts and US business leaders said.

Their comments came after Chinese Vice-Premier He Lifeng held a video call with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer on Friday, in a sign of continued efforts by the world's two largest economies to address unresolved trade issues through high-level engagement.

The vice-premier, who is also the nation's lead person for China-US economic and trade affairs, held candid, in-depth and constructive discussions with US officials on major economic and trade issues of mutual concern, according to a statement released by the Ministry of Commerce over the weekend.

During the talks, China expressed serious concerns over recent US economic and trade restrictions targeting the country, while both sides agreed to make effective use of their bilateral consultation mechanism to deepen cooperation and manage differences.

In a further sign of bilateral economic tensions, the Ministry of Commerce on Saturday voiced firm opposition to US sanctions imposed on two Chinese companies over their alleged links to Cuba, urging Washington to reverse the measures.

Fu Suixin, an associate researcher at the Chinese Academy of Social Sciences' Institute of American Studies, said China-US economic relations will continue to involve both cooperation and competition, making sustained high-level engagement essential to managing differences.

Fu said the next challenge will be to ease trade restrictions, address market access disputes and provide businesses with greater policy certainty, thereby allowing bilateral agreements to deliver tangible commercial benefits.

Despite differences, China-US goods trade reached 3.18 trillion yuan ($476.3 billion) in the first three quarters of 2026, while US investment in China rose 7.7 percent year-on-year, data from the General Administration of Customs and the Ministry of Commerce showed.

The Ministry of Commerce said last week that China remains open to increasing imports of US agricultural products, provided reciprocal tariff reductions covering about $30 billion in imports on each side are implemented.

Speaking on the sidelines of the ongoing 9th China International Import Expo, which runs through Tuesday in Shanghai, Carlos Salinas, executive director for East Asia at the US Soybean Export Council, expressed optimism about the recovery in soybean trade between the two countries.

"The atmosphere is a lot better than it was last year at this time," said Salinas, referring to China-US soybean trade, adding that an initial agreement covering 12 million metric tons of soybeans had been fulfilled and the agreement for the next 25 million metric tons was progressing steadily.

Aravind Yarlagadda, senior vice-president of industrial solutions at Baker Hughes Co, a US energy equipment manufacturer participating in the CIIE for the ninth consecutive year, said China plays a pivotal role in connecting industrial supply chains across the Asia-Pacific region, offering opportunities for US companies to combine advanced technologies with Chinese manufacturing capabilities and expertise.

With six manufacturing facilities in China, Baker Hughes sees growing potential for cooperation in industrial artificial intelligence, predictive maintenance and energy efficiency, he said, adding that stable bilateral trade relations would help translate technological advances into commercial gains.

Emphasizing the importance of clear trade rules at a business forum during the CIIE, Christian Marchant, the US consul general in Shanghai, said: "When rules are clear and processes are predictable, buyers and sellers on both sides gain the confidence to make long-term commitments."

zhongnan@chinadaily.com.cn