US, China agree to launch new trade, investment councils

The United States and China have agreed to establish intergovernmental Trade and Investment Councils following recent bilateral trade and economic consultations.

As Caliber.Az reports, in a statement, China’s Ministry of Commerce said both sides reaffirmed that “the essence of China–US economic relations is mutually beneficial cooperation,” adding that differences should be resolved through “dialogue on an equal footing.”

The two countries agreed during the talks to set up intergovernmental Trade and Investment Councils. According to the ministry, economic teams from both sides will maintain close communication to define the structure, functions, and operational mechanisms of the new platforms.

The councils are intended to provide a structured forum for discussing trade and investment interests, exchanging policy perspectives, expanding cooperation, and managing economic disputes. Officials said the initiative would help shift engagement away from “crisis response” toward a “mechanism of managed interaction,” offering a more stable framework for economic cooperation.

The discussions also covered a range of issues, including tariffs, agricultural trade, export controls on rare earth elements, and aircraft supply chains. Notably, China agreed to purchase 200 Boeing aircraft, while the United States will supply engines and spare parts required for the deal.

The announcement came amid Russian President Vladimir Putin’s visit to Beijing and his meeting with Chinese President Xi Jinping.

By Vafa Guliyeva