!-- Google tag (gtag.js) -->

US, China Discuss Trade Environment, Investment Opportunities in Sign of Thawing Ties

The US recently questioned China banning American chip maker Micron from critical infrastructure in the country due to security concerns.

May 26, 2023
US, China Discuss Trade Environment, Investment Opportunities in Sign of Thawing Ties
									    
IMAGE SOURCE: TWITTER
US Secretary of Commerce Gina Raimondo and China’s Minister of Commerce Wang Wentao.

In a sign of thawing ties between the US and China, US Secretary of Commerce Gina Raimondo and China’s Minister of Commerce, Wang Wentao, discussed their bilateral trade relationship on Thursday.

According to a press release by the US Department of Commerce, the two diplomats, who met in Washington, discussed several issues, such as “the overall environment in both countries for trade and investment and areas for potential cooperation.”

In addition, Raimondo raised concerns about China’s recent actions against US companies operating in China. She also “expressed her commitment to continuing to build on the engagement.”

Washington added that the meeting was “part of ongoing efforts to maintain open lines of communication and responsibly manage the relationship.”


Timing

The meeting comes after China’s new ambassador to the US, Xie Feng, warned of “serious difficulties” in relations.

“We hope that the United States will work together with China to increase dialogue, to manage differences and also to expand our cooperation so that our relationship will be back to the right track,” Xie said after landing in the US earlier this week.

However, US President Joe Biden said in Japan last weekend that “everything changed in terms of talking to one another” following the spy balloon incident, but that the cold ties will “begin to thaw very shortly.”

Hinting the thaw, State Department spokesperson Matthew Miller said that the US remains committed “to maintaining channels of communication with [China] to responsibly manage competition.”