China and the US agreed to restart trade talks on mutual respect and equal-footing during the talks between President Xi Jinping and his US counterpart Donald Trump held in Osaka, Japan on Saturday.
The US side said it will not add new tariffs on Chinese exports. The negotiation teams from the two countries will discuss the specific issues.
At the beginning of their meeting, Xi recalled the start of “ping-pong diplomacy” in 1971 in Nagoya, Japan, where Chinese and US players had friendly interactions at the 31st World Table Tennis Championships.
Eight years after that, China and the United States established diplomatic relations in 1979, Xi said.
Despite the great changes that have taken place in the international situation and China-US relations during the past 40 years, “one basic fact remains unchanged: China and the United States both benefit from cooperation and lose in confrontation,” Xi said. “Cooperation and dialogue are better than friction and confrontation.”
Noting that he and Trump have maintained frequent telephone and mail contact recently, Xi said he is prepared to exchange views with the US president on fundamental issues concerning the development of China-US ties, so as to “set a direction for our relationship in a period to come and to advance the China-US relationship based on coordination, cooperation and stability.”