US and China agree to ease trade tensions

The US and Chinese authorities have agreed to create new channels of communication on economic and commercial issues, US Secretary of Commerce Gina Raimondo said after talks with her Chinese counterpart Wang Wentao. Chinese Ministry of Commerce confirmed this information and stressed that Beijing is determined to reduce tensions with Washington in matters of foreign economic activity.

Gina Raimondo explained that the United States does not intend to make concessions to China on any issues, but is ready for a constructive dialogue with the leadership of the PRC. “I want to make it clear that we are not compromising or negotiating on matters of national security. Dot. But it should be a dialogue in which we increase transparency and when it is clear to us what we are doing, ”the American official said (quoted from The Wall Street Journal).

Chinese Minister Wang Wentao specified that he and his American counterpart recognized the importance of “an open and productive dialogue between states in this area and announced the creation of new interagency communication channels.” According to the Ministry of Commerce of the PRC, to resolve possible problems, an intergovernmental working group has been created at the level of deputy ministers, responsible persons of departments and offices, as well as representatives of business circles. It is assumed that meetings and negotiations at the level of deputy ministers of the United States and China will be held twice a year, and the heads of trade departments of the two states will hold personal meetings at least once a year.

According to The Wall Street Journal, the first US-China interagency trade consultations will focus on exchanging information on export control enforcement. According to preliminary data, they will be held today, August 29.

Read more about the problems in trade relations between the US and China – in the material “Kommersant” “Chinese five-year plan – in two days”.

Alexander Kislov