Thursday, December 02, 2021

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China, US take another look at their trade concerns

China, US take another look at their trade concerns

Beijing, Jun 2 (Prensa Latina) China and the United States talked on Tuesday, and for the second time in less than a week, about the development and mutual concerns in their commercial exchanges, an area lacerated by the tariff war that broke out in 2018.
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An official communique indicated that during a virtual meeting, Chinese Vice Premier Liu He and US Secretary of the Treasury Janet Yellen expressed their views on each side’s concerns, agreed on the importance of ties and to maintain communication in the future.

This meeting followed that held last week by Liu with US Secretary of Commerce Katherine Tai, where both officials also analyzed the state of ties in that sphere.

Liu is the chief of the China team that in recent years negotiated with the United States solutions to the trade conflict and finally in January 2020, they signed Phase one of a pact aimed at putting an end to the dispute.

Observers describe the two meetings with officials from the administration of US President Joe Biden as positive, although both powers maintain frictions on different fronts.

The 2020 trade agreement established obligations and mechanisms to handle disputes regarding intellectual property, food and agricultural products, trade promotion, finance, currency and transparency, forced technology transfer, bilateral assessment and dispute solution.

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