China's Commerce Minister: China-US economic and trade relations have gone through storms

China's Commerce Minister Wang Wentao said on Friday that the economic and trade relations between the Unites States have gone through storms, but remain important to each other.

Key quotes

China-US economic and trade relations have gone through storms, remain important to each other.
US since 2018 has adopted more unilateral, protectionist measures provoking frictions.
Mutual benefit is the essence of US-China commercial ties.
Decoupling is doomed to fail as it contradicts economic development.
Differences and frictions inevitable, dialogue and consultation best way to fix problems.
Some things are irreplacable, at least in the short term.
Key is to respect each others’ core interests, major concerns.
Geneva agreement, London framework effectively stabilised commercial ties, cooled down tensions.

Market reaction

At the time of writing, the AUD/USD pair is trading 0.31% higher on the day to trade at 0.6508.