US, EU agree to tear down trade barriers

The consensus reached between the United States and the European Union to tear down trade barriers is beneficial not only to the two sides, but also to the global economy, the Ministry of Commerce said on Thursday.

Ministry spokesman Gao Feng said the decision made by the US and the EU to avoid a trade war is certainly a good thing for both sides and the whole world, and China will follow the progress of related negotiations.

The comments came after the US and EU issued a joint statement in Washington pledging to pull back from the brink of a trade war and to open talks aimed at reducing trade barriers.