Guo Weimin:

The last question.

Xinhua News Agency:

At present, everyone is very concerned about the development of the China-U.S. economic and trade negotiations. The U.S. side also stated earlier that the leaders of China and the United States will meet in June at the G20 summit, which the public generally believe to be a key for both sides to restart negotiations. May I ask Mr. Wang, is there any contact at the working level between the two sides? Is there a plan for negotiations? If so, what kind of trade agreement will China accept? Thank you.

Wang Shouwen:

Thank you. As I just mentioned, the reason for the serious setback in the China-U.S. economic and trade consultations is because the United States has raised the additional tariffs on $200 billion of Chinese exports to the U.S. from 10 percent to 25 percent, and then launched procedures to slap additional tariffs on remaining Chinese goods, which are worth around $300 billion. The United States also abuses its national security exceptions and added some Chinese companies onto its list of export control entities, which is the reason for the escalation of economic and trade frictions between the two sides. China has always been sincere in the negotiations. We want to reach an agreement that is mutually beneficial and equal. Allow me to repeat, that if consultations are needed, the two sides involved must respect each other, and work together to meet each other halfway; the consultations must be equal and mutually beneficial. Thank you.

Guo Weimin:

This concludes today's press conference. Thank you.

Translated and edited by Li Huiru, Chen Xia, Zhang Jiaqi, Cui Can, He Shan, Zhang Liying, Zhang Rui, Li Yang, Liu Sitong, Gong Yingchun, Wang Qian, Guo Xiaohong, He Shan, Zhou Jing, Wang Yanfang, Jennifer Fossenbell, Geoffrey Murray, Laura Zheng, Degen Hill, Kenneth Teh Chiu Soong