China and the United States issued a joint statement on bilateral economic and trade consultations in Washington on the 19th. China and the United States reached a consensus that they will not fight trade wars and stop levying tariffs on each other. The two sides agreed that effective measures will be taken to substantially reduce the US trade deficit with China’s goods. The two sides agreed to meaningfully increase the export of US agricultural products and energy. The two sides discussed the expansion of manufacturing products and services, and reached consensus on creating favorable conditions for increasing trade in the above-mentioned areas. The two sides attach great importance to the protection of intellectual property rights and agreed to strengthen cooperation. Both parties agree to encourage two-way investment and will strive to create a fair and competitive business environment. The two sides agreed to continue to maintain high-level communication in this regard and actively seek solutions to their respective economic and trade issues.