What’s new: Chinese Commerce Minister Wang Wentao and U.S. Commerce Secretary Gina Raimondo engaged in “candid, professional and constructive” discussions on trade issues during a meeting in Washington on Thursday, the Chinese commerce ministry said.
Wang raised key concerns regarding U.S. semiconductor policy, export controls, foreign investment review and Washington’s overall economic and trade policies toward China during the meeting, the Ministry of Commerce said in a statement.
Meanwhile, Raimondo highlighted the “recent spate of PRC actions taken against U.S. companies” operating in China, according to a statement from the U.S. Department of Commerce.
Both sides agreed to establish and maintain open lines of communication, according to the statements.
Wang is also expected to meet with U.S. Trade Representative Katherine Tai while attending the APEC Ministers Responsible for Trade Meeting this week.
The background: China-U.S. relations deteriorated after the Pentagon downed an alleged Chinese spy balloon in early February, leading to the postponement of U.S. Secretary of State Antony Blinken’s scheduled visit to China.
The tensions have escalated further recently as a Group of Seven communique referred to China’s trade practices as “economic coercion,” and U.S. lawmakers stepped up their push to ban ByteDance Ltd.’s TikTok and intensified scrutiny over Chinese e-commerce companies like Shein Group Ltd. and PDD Holdings Inc.’s Temu.
On Sunday, Beijing issued a ban on the products of U.S. chipmaker Micron Technology Inc., citing “relatively serious” cybersecurity risks found in the company’s products sold in China.
Contact reporter Kelly Wang (jingzhewang@caixin.com) and editor Leila Hashemi (leilahashemi@caixin.com)
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