China-U.S. High-Level Economic and Trade Talks Reach Important Consensus, Good News for Graphite Electrode Exporting

From May 10 to 11, local time, China-US high-level economic and trade talks were held in Geneva, Switzerland. The two sides conducted frank, in-depth and constructive communication on the implementation of the important consensus of the China-U.S. Premier's phone call, and reached a series of important consensus. According to the Joint Statement of the U.S.-China Economic and Trade Talks in Geneva released on May 12, the U.S. side committed to canceling the 91% tariffs on Chinese goods and suspending the implementation of some tariffs. The Chinese side also correspondingly canceled counter tariffs on U.S. goods and suspended some non-tariff countermeasures. This is also good news for China's graphite electrode exports.

In addition, the two sides agreed to establish a mechanism for U.S.-China economic and trade consultations and maintain close communication on their respective concerns in the economic and trade fields. Substantial progress has been made in the talks, with substantial reductions in the level of bilateral tariffs, which meets the expectations of producers and consumers in both countries and injects confidence in the global economic recovery.