U.S., Chinese Officials Discuss Trade Policies And U.S. Enacts More Rules On Russian Trade

On May 25, U.S. Secretary of Commerce Gina Raimondo met with Chinese Commerce Minister Wang Wentao to discuss trade, investment, and export policies. Minister Wang also met with U.S. Trade Representative Katherine Tai the same day, but separately.

According to a readout of the meeting from the U.S. Department of Commerce, Secretary Raimondo and Minister Wang “had candid and substantive discussions on issues relating to the U.S.-China commercial relationship, including the overall environment in both countries for trade and investment and areas for potential cooperation.”

While Secretary Raimondo raised concerns about Chinese government actions taken against U.S. companies operating in China, Minister Wang voiced worries about some of the Biden administration’s China policies, including it rules regarding semiconductors, export controls, and reviews of foreign investments.

According to Reuters, Secretary Raimondo and Minister Wang said they would maintain open communication on specific trade, export, and cooperation matters.

Last week’s discussion came after President Joe Biden and other G7 leaders pledged the week before to address the challenges posed by China’s non-market policies and practices, which distort the global economy. Read more about that pledge here.

In related news: in response to Russian aggression against Ukraine, G7 announced enhanced export controls against Russia and Belarus, some of which concern the metals industry. Find more information from the U.S. Commerce Department here.