China-US economic and trade consultation mechanism expected to contribute to stable and constructive bilateral engagement

Editor's note: Ji Wenhua is a professor at the Academy of China Open Economy Studies and School of Law, University of International Business and Economics. The article reflects the author's opinions and not necessarily the views of CGTN.

He Lifeng, Vice Premier of the State Council of China, held the first meeting of the China-US economic and trade consultation mechanism with the US side in London on Monday. The meeting has attracted wide global attention and is seen as an important signal of efforts to stabilize bilateral economic ties and ease trade frictions between the world's two largest economies.

Decoupling and confrontation do not serve the interests of China and the US

At present, China-US economic and trade relations are at a critical juncture. Since the beginning of 2025, the Trump administration has introduced a series of unilateral trade measures against China, including imposing steep tariffs on Chinese exports and intensifying restrictions on exports and investment. 

In response, China has taken firm countermeasures in accordance with Chinese law and regulations. These include increasing tariffs on US products, strengthening export controls on critical minerals, and the inclusion of certain US companies on China's unreliable entity list. China has also brought relevant US measures to the WTO dispute settlement mechanism, fully demonstrating its resolve to safeguard national interests and uphold multilateral trade rules.

The establishment of the consultation mechanism is a result of China's firm and measured response. While safeguarding its core interests, China has consistently maintained an open and constructive approach. China has reiterated on multiple occasions that it is willing to engage in dialogue and consultation based on equality and mutual respect, provided the US side abandons its policy of maximum pressure. It is precisely this principled and pragmatic stance that has led to the reopening of contact and the establishment of this consultation mechanism.

Dialogue and cooperation remain the only correct choice for China and the US

The mechanism serves as an institutional platform for dialogue under high-pressure circumstances. Its function lies not only in preventing misjudgment and escalating tensions, but also in creating a more predictable and stable framework for engagement. It is expected to help lay the foundation for further negotiations and even partial breakthroughs on specific issues. 

As long as the US side is willing to engage in good faith, with a rational and pragmatic attitude, it is possible for both countries to find common ground and pathways for resolving trade disputes.

It should be noted that while structural differences exist between the two economies, China and the United States also enjoy strong industrial complementarities. Against the backdrop of global inflation, supply chain restructuring, and technological transition, stabilizing China-US economic and trade relations is itself a crucial factor in global economic governance. Cooperation remains the only correct choice for both sides, and managing differences while expanding cooperation serves the fundamental interests of the two countries and meets the expectations of the international community.

At the same time, uncertainties surrounding the trajectory of China-US trade relations and the sustainability of the consultation mechanism persist, particularly due to the frequent policy shifts on the US side. If the Trump administration continues to expand tariffs and sanctions while engaging in dialogue, the credibility and effectiveness of the mechanism will be seriously undermined, potentially rendering it ineffective and eroding mutual trust. 

The mechanism should become a platform for stabilizing relations and achieving mutual benefits

China is expected to remain clear-headed and strategically focused while actively promoting the mechanism. On one hand, efforts should be made to ensure that the mechanism acts as a stabilizing force for bilateral economic ties—reducing friction, fostering consensus, and expanding cooperation through rule-based dialogue. On the other hand, China must also make full preparations on all fronts, including refining its export control system, industrial security tools, and foreign trade compliance mechanisms, in order to enhance its resilience in responding to economic and trade challenges.

The operation of the consultation mechanism will serve as an important indicator of the direction of China-US economic and trade relations in the coming period. It is hoped that the US side will demonstrate the necessary political will and sincerity in dialogue, and work together with China to ensure the mechanism develops in a healthy and results-oriented manner. 

Only by making the mechanism a genuine platform for dialogue rather than a temporary expedient can both sides achieve the goal of stabilizing relations and realizing mutual benefits. This, in turn, will help guide the global trading system back toward rules, fairness, and openness.