China: Significant progress was made in the initial phase of direct talks with the US on trade, which saw tension ever since Donald Trump become President back in January.

According to Kuwait News Agency, this affirmation came in a press conference held by Vice Premier of China He Lifeng after his deep and constructive talks in the previous days in Geneva, Switzerland with US Treasury Secretary Scott Bessent and United States Trade Representative and US Trade Representative Jamieson Greer.

Lifeng said that the two sides met eye-to-eye on certain points and agreed to establish mechanisms for economic and trade dialogue and keeping channels open.

Discussions were “fruitful”, asserted Lifeng, adding that such was the first step to clear up the waters between the two countries.

The Chinese official also confirmed that the US and China had a wide range of interests and space to collaborate within their economic ties, adding that achieving mutual benefit was the way forward.

He stressed the importance of mutual respect and dialogue to find solutions for problems facing China and the US, indicating that stable Sino-American trade relations was the best outcome.

There is no winner in trade war, indicated Lifeng, saying that China was not eager to partake in that scenario but would not back down if the US insisted on it, which would harm America and its interest.