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World News August 29, 2023

China, U.S. agree to new dialogue on trade, export control

China’s Commerce Minister Wang Wentao and U.S. Commerce Secretary Gina Raimondo held discussions to strengthen economic and trade ties. They established new communication channels, including an export control information exchange mechanism. Both sides expressed willingness to create a favorable environment for bilateral business cooperation, but Wang raised concerns about issues like U.S. tariffs, semiconductor policies, and investment restrictions. The officials emphasized the need for fair competition and criticized unilateral measures. A working group was formed to address business-related matters, with regular high-level meetings planned. Experts from both countries will also collaborate on protecting trade secrets.

Source: CGTN

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