BEIJING, July 11 (Xinhua) -- Chinese and U.S. negotiating teams will restart economic and trade consultations on the basis of equality and mutual respect in line with the consensus reached by the two heads of state on the sidelines of the G20 summit in Osaka, the Ministry of Commerce (MOC) said Thursday.
Negotiating teams from both sides are currently in contact for a concrete arrangement, MOC spokesperson Gao Feng said at a press conference.
On Tuesday evening, chief trade negotiators of China and the United States held a telephone conversation and exchanged views on implementing the consensus reached by the two heads of state in Osaka.
Economic and trade teams of the two sides are earnestly implementing the consensus of the two heads of state, Gao said.
"It is China's consistent and clear position that core concerns of the Chinese side must be properly addressed," he said, expressing the confidence that the two sides can find a solution through equal dialogue and accommodating each other's reasonable concerns.
This is not only in the interests of China and the United States and the two peoples, but is also in the interests of people across the world, he said.
Commenting on the recent U.S. decision to exempt additional tariffs imposed on 110 items of Chinese products, Gao said it's the normal tariff exemption procedures of the U.S. side.
China has also established a corresponding mechanism for tariff exemption and will proceed according to applications from enterprises, he added.
The U.S. side should fulfill its promise and stop the wrong practice of suppressing Chinese firms with state power as soon as possible, Gao said.