Breaking the ice in U.S.-China relations?Ministers of Commerce of the two sides agree to promote trade and investment relations | Anue Ju Heng-International Political Economy

US Secretary of Commerce Gina Raimondo (Gina Raimondo) and Chinese Secretary of Commerce Wang Wentao spoke on Thursday (10th). This is the third call between US and Chinese economic and trade officials in recent weeks. The two sides agreed to promote trade and investment relations. Bloomberg pointed out that this is the first time the two countries have agreed to promote trade and investment relations since U.S. President Biden took office.

Chinese media reported that Wang Wentao and Raimondo agreed to promote the healthy development of pragmatic cooperation and properly handle differences. During the call, the two exchanged views frankly and pragmatically on issues and mutual concerns in the Sino-US business field, and both sides agreed to continue to communicate.

Chinese Vice Premier Liu He spoke with U.S. Trade Representative Kathrine Tai on May 27, and then with U.S. Treasury Secretary Janet Yellen on June 2.

Gao Feng, a spokesperson for the Chinese Ministry of Commerce, said that since last week, the two countries have resumed normal communication, and the two sides have agreed to solve problems for manufacturers and consumers in a pragmatic manner and promote healthy and stable economic and trade relations between the two countries.

Bloomberg reported that the U.S. statement on the improvement of Sino-U.S. relations has been less positive than China. Dai Qi said before the opening of the APEC trade ministers meeting this weekend that the trade relationship between the two countries is “seriously out of balance” and the Biden administration is working to restore balance.

Dai Qi also said that there are problems in certain aspects of the US-China relationship and that over time it may seriously damage the US economy.

Alvin Tan, head of Asian foreign exchange strategy at RBC Capital Markets, said that people from all walks of life did not expect too much from the conversation between the two countries. The strengthening of economic and trade exchanges between the United States and China is a positive phenomenon, but neither party has proposed to change the situation Decision or statement.

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