US, China Agree To New Trade Dialogue

US, China Agree To New Trade Dialogue

Aug. 29, 2023, 7:19 a.m.

US and Chinese officials are making efforts to mend their frayed ties. US Commerce Secretary Gina Raimondo said they are working toward more "stable" relations. But she said US officials would not compromise on issues of national security.

Raimondo met in Beijing on Monday with Chinese Commerce Minister Wang Wentao. He said he was pleased to have the opportunity to "coordinate in the fields of economy and trade."

Last October, US officials introduced new rules limiting Chinese access to advanced chips. Earlier this month, Chinese officials restricted exports of gallium and germanium, metals that are needed to make some types of semiconductors.

The two sides have not resolved those differences. They did agree to set up a working group on trade and investment which would include government officials and representatives of the private sector. Raimondo said US officials would host the first meeting early next year.

Raimondo also announced a platform to exchange information on export controls. "This is meant to be a dialogue where we increase transparency, and we are clear about what we are doing as it relates to export control enforcement," Raimondo said.

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