- US Commerce Secretary and her Chinese counterpart expressed concerns about each other’s government policies amid disputes over technology and security.
- No progress was made in resolving these disputes, but both sides promised to strengthen exchanges on trade issues.
- Companies from both countries have been affected by tighter official controls on trade in semiconductors and other security-related activity, and political relations between the two governments are at their lowest level in decades.
US and Chinese trade officials have expressed mutual concern over each other’s restrictions, which they believe are hindering global trade and causing economic distress. The discussion took place during a recent virtual meeting between representatives from the two countries.
The US trade officials expressed concerns about China’s tightened restrictions on imports, investment, and market access. They raised specific concerns about China’s non-tariff barriers, including licensing and certification requirements, which they believe are creating significant challenges for American businesses looking to enter China’s lucrative market.
Similarly, Chinese officials voiced concerns about the US measures restricting the flow of trade and investment, including the recent limits on technology transfers and investments in specific sectors. They argued that these restrictions are negatively impacting the competitiveness of Chinese businesses and hindering global economic growth.
Both sides have acknowledged the importance of open and transparent trade and emphasized the need for constructive engagement to resolve the ongoing trade tensions. They have also committed to increasing cooperation on issues related to intellectual property, market access, and investment.
However, it remains to be seen whether this dialogue will lead to concrete policy changes, given the entrenched positions of both countries on key issues such as technology transfer and intellectual property protection. Nevertheless, these discussions are an important step towards reducing tensions and promoting a more open and fair international trade environment.